NOTES ON THE ACCOUNTS
+
16. CONTINGENCY PROVISION - INSURANCE
Balance at 1 January
Provision made during the year
Transfer from claims payable
Balance at 31 December
1995
1994
HK$'000
HK$ 000
175,322
146,063
18,876
10,383
175,322
175,322
This provision 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.
17. DEVELOPMENT FUND
Balance at 1 January
Transfer from profit and loss account
Amount in surplus of permitted return
Interest on development fund
Balance at 31 December
56
1995
HK$'000
1994
HK$000
1,912
76
1,988
1,988
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