NOTES ON THE ACCOUNTS
11. SHARE CAPITAL
1991
HK$'000
1990
HK$'000
Authorised:
410,000,000 ordinary shares of HK$1 each
410,000
410,000
Issued and fully paid:
403,639,413 ordinary shares of HK$1 each
403,639
403,639
12. RESERVES
1991
1990
HK$'000
HK$'000
Capital reserve
Balance at 1st January and 31st December
2,412
2,412
General reserve
Balance at 1st January and 31st December
17,601
17,601
Profit and loss account
563,891
499,687
583,904
519,700
13. CONTINGENCY PROVISION · INSURANCE
44
Balance at 1st January
Provision made during the year
Transfer (to)/from claims payable
Balance at 31st December
1991
HK$'000
1990
HK$'000
108,251
107,100
27,500
(7,369)
1,151
128,382
108,251
This provision, which was based on the advice of an independent actuary, represents amounts set aside annually by the Company to meet liabilities which may arise from third party claims in connection with the Company's bus operations and to cover potential losses which may be caused by fire damage to the fleet.
No comments yet.
Private notes are available after approval.