Prospects
The ferry business will face difficult times in the years ahead because of stiff competition from other transport modes and escalation in operating costs. In order to provide a decent and viable service to the public, the company has been working closely with the Government on rationalization of the ferry service network.
Rental income from property investment is expected to show satisfactory improvement in 1990 as a result of lease reversions.
The retail and travel business in expected to show steady growth in the coming year. In order to complement the tour business, the company has taken over the management of the Silvermine Beach Hotel as from February 1990.
With a strong financial base, the group is well placed to take up suitable development projects or other investment opportunities.
I anticipate that in the absence of unforeseen circumstances, the dividend for 1990 will be not less than 28 cents per share.
Lau Chan Kwok Chairman
Hong Kong, 8 March 1990
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