1993 — Page 65

KMB

九巴服務 日日進步

NOTES ON THE ACCOUNTS

16. BANK LOANS AND OVERDRAFTS

Bank loans and overdrafts are repayable as follows:-

1993

1992

HK$'000

HK$'000

Within 1 year and included in current liabilities

178,885

162,045

After 1 year and included in long term liabilities

―

between 1 and 2 years

128,781

124,703

-

- between 2 and 5 years

219,254

248,470

- over 5 years

10,000

45,714

358,035

418,887

536,920

580,932

17. UNDERTAKINGS FOR CHARGE OF PROPERTIES

The title deeds of certain of the Company's properties, with a net book value of HK$142,606,000 at 31 December 1993, 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 31 December 1993, the Company's liabilities covered by the above agreements of undertaking were HK$188,571,000 (1992 - HK$224,286,000).

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KMB

九巴服務 日日進步

NOTES ON THE ACCOUNTS