1987 — Page 49

NOTES ON THE ACCOUNTS

19 UNDERTAKINGS FOR CHARGE OF PROPERTIES

The title deeds of certain of the Company's land, with a net book value of HK$3,497,000 at 31st December, 1987, have been deposited with certain banks together with agreements of undertaking to execute a legal mortgage in an event of default of the Company's obligations under the respective loan agreements.

At 31st December, 1987, the Company's liabilities covered by the above agreements of undertaking were HK$66,460,000 (1986 -HK$92,552,000).

20 CAPITAL COMMITMENTS

Capital commitments outstanding at 31st December not provided for in the accounts were as follows:

Contracted for

Authorised but not contracted for

1987

1986

HK$'000

HK$'000

64,884

186,422

52,608

125,230

117,492

311,652

21 COMPARATIVE FIGURES

Certain comparative figures have been reclassified to conform with the current year's presentation.

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