1993 — Page 68

66

KMB

九巴服務 日日進步

REPORT OF THE AUDITORS

TO THE MEMBERS OF THE KOWLOON MOTOR BUS COMPANY (1933) LIMITED

We have audited the accounts on pages 50 to 65 in accordance with Auditing Standards.

In our opinion, the accounts give a true and fair view of the state of the Company's affairs at 31

December 1993 and of its profit and cash flows for the year ended on that date and have been

properly prepared in accordance with the Companies Ordinance.

KPMG Peat Marwick

Certified Public Accountants

Hong Kong, 14 April 1994