In addition to providing a vital support service to the ferry business, the shipyard will continue its strategy of securing more business outside the group.
In view of the current high rental costs, no significant increase in the number of new supermarkets has been planned for 1989. However, the rate of expansion will be stepped up should the rental stay at an acceptable level.
The fourth industrial building with a lettable area of 15,000 m2 was completed in February 1989. Commitments to lease have been entered into with interested tenants for virtually the whole development. Rental income is expected to show significant improvement over that of 1988.
In the travel business, considerable effort will be devoted to expansion of the local tour market and out-bound tours to Southeast Asian regions. Healthy growth in revenue is forecast for 1989.
With a solid financial base, your group is well placed to pursue suitable development projects or other investment opportunities.
Although the Hong Kong economy is going to show a more moderate expansion this year, I anticipate that in the absence of unforeseen circumstances, the dividend of 25 cents per share will be maintained for 1989.
Lau Chan Kwok
Chairman
Hong Kong, 8 March 1989
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