1994 — Page 22

Financial Review

execute legal mortgages to certain banks in the event of default of the Company's obligations under the respective loan agreements. The maturity profile of the long term bank loans of the Company are set out

in note 18 in the accounts.

1994

1993

1992

1991

1990

Number of employees

Total

11,433

11,048

10.916

10,578

933

10,610

3,000

6,000

9,000

12,000

CAPITAL EXPENDITURE AND COMMITMENT

Capital expenditure incurred during the year amounted to HK$487 million, of these, HK$445 million was for the purchase of buses and other motor vehicles, HK$16 million was for the improvement of depot facilities and HK$26 million was for the purchase of furniture, fixtures, computers and other equipments.

As at 31 December 1994, the Company had on order 26 additional single-deck and 185 double-deck buses. Capital commitment outstanding and not provided for in the accounts at 31 December 1994 amounted to

HKS350 million.

1994

1993

:992

Bus captains Service dept. staff

Other traffic dept. staff

Others

Staff cost and number of staff per bus

Number of staff per bus

3.8

30

3.2

34

3.6

1921

| 647

AAD

:991

1990

1050

400

Staff cost

40

3.68

800

1.200

1.600

Stoff cost (HK$ million)

2,000

→→ Number of staff

per bus

Debt maturity profile

32

SCHEME OF CONTROL STATEMENT

A Scheme of Control Statement relating to the Company's franchised bus operation for the year ended 31 December 1994 is presented on pages 62 to 65 of this Annual Report. The content of this Statement indicates more clearly the method of

calculation of the Permitted Return under the Profit

Control Scheme and provides the breakdown of bus operation expenses.

20

1994

40

1993

33

1992

28

21

43

8

1991

29

20

36

15

1990

41

24

26

9

25

-9

50

1 75

1

100

Percent

Within 1 year Between 2 & 5 years

Between 1 & 2 years Over 5 years

The Kowloon Motor Bus Company (1933) Limited.