1987 — Page 11

CHAIRMAN'S STATEMENT

主席報告

$260 million to $330 million by the creation of 70 million shares of $1 each.

FRANCHISE

The current Franchise held by the Company for public bus services will expire in 1995. On 2nd April, 1987,

the Company applied for a 2 year extension of the Franchise. The

Company is very disappointed that up to the date hereof the Government is still unable to give the Company any definite decision. The delay is due partly to the Government's desire to know the Company's intention as regards the claim of compensation to which the

Company is entitled as a result of the

Amendment of Franchise (Kowloon

Motor Bus Company) Order 1987

which curtailed the Company's right to

provide bus services in the North West Transit Services Area. The Company

has informed the Government that the Company intends to claim full

compensation to which the Company is entitled under the law. The Company is

advised by its legal adviser that the

question of compensation is

independent from the question of

extension of Franchise.

股本由二億六千萬元增至三億三千萬元, 即增加面值一元股份七千萬股。

專利

本公司現時持有之公共巴士服務專利將 於一九九五年屆滿。本公司已於

一九八七年四月二日,申請將專利延長 兩年。本公司對於政府直至現在仍未能 給予本公司任何確實答覆感到十分失望, 此項延誤之部分原因乃政府欲獲悉本公司 對於因1987年修訂專利權(九龍汽車 公司)合而有權要求賠償之意願。

該項法令縮減本公司在新界西北部輕便 鐵路服務區提供巴士服務之權利。

本公司已通知政府,指出本公司

將依法索取本公司有權獲得之十足賠償。

本公司之法律顧問向本公司指出, 賠償一事應與延長專利無關。

展望

將由九廣鐵路經營之屯門及元朗區輕便 鐵路系統(“輕鐵”)預期於一九八八年 八月開始服務。故此,該區八條現有區內 九巴路線共九十輛巴士將須全部調離, 引致本公司每日載客量損失約十三萬 人次。

OUTLOOK

The Light Rail Transit (''LRT'') system in the Tuen Mun and Yuen Long area which will be operated by the Kowloon-Canton Railway is scheduled. to commence service in August,1988. In consequence thereof eight existing internal KMB routes in that area, utilising some 90 buses, will all have to

be withdrawn, causing the Company a loss of approximately 130,000 passengers daily.

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