1993 — Page 64

KMB

九巴服務 日日進步

NOTES ON THE ACCOUNTS

14. DEVELOPMENT FUND

1993

1992

HK$'000

HK$'000

Balance at 1 January

29,763

30,604

Transfer (to)/from profit and loss account

Amount in deficit of permitted return

Interest on development fund

(30,968)

(3,163)

1,205

2,322

(29,763)

(841)

Balance at 31 December

15. STAFF RETIREMENT FUND

29,763

1993

1992

HK$'000

HK$'000

Balance at 1 January

157,300

67,100

Transfer from profit and loss account

213,661

167,894

Payments during year

Balance at 31 December

370,961

234,994

(87,661)

(77,694)

283,300

157,300

The above fund represents the provision for the improvement of retirement benefits to

employees.

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