1993 — Page 40

賬項附註

Notes on the Accounts

11.碼頭發展成本

由於進行填海工程,香港政府已通知本集團,現 有在中環的碼頭必須遷往現址的北面。

香港油蔴地小輪船有限公司(小輪)已向政府 申請在新建碼頭上蓋發展商業物業。

如政府接納建議,則新碼頭的地基設計便不 能承托建議中碼頭,為避免到時更改地基而 引致金錢和時間上的損失,因此小輪在取得 政府的同意下,以自資及自負風險方式,負 責有關地基工程的額外承重費用。

有關費用預計達一億五千多萬元,第一期工程 費用為數HK$17,015,595·已於本年度內繳付並 包括在碼頭發展成本中。

(a)如建議獲得政府允許,這筆資金便以發

展中資產記賬直至建議中工程完成為止。

(b) 如建議不獲批准,該批費用,包括未來一切

預算成本在內,將從小輪損益賬中撇除。

董事局堅信政府將接納小輪的建議,而建議 中的工程,亦會如常進行,董事局相信無須 作撇賬準備。

香港小輪集團有限公司,已為其附屬公司香 港油蔴地小輪船公司,向政府作出償還額外 成本之保証。

11. PIER DEVELOPMENT COSTS

The Hong Kong Government (the "Government"), as part of their reclamation project, have informed the group that the ferry piers in Central currently used are to be re-provided to the north of their present location.

The Hongkong & Yaumati Ferry Company Limited ("HKYF") has approached the Government with a proposal to permit development above the re-provided ferry piers by the construction of commercial and residential premises thereon (the "proposal").

In the event that the Government accepts the proposal, the original piling design for the re-provided ferry piers will not support the structures envisioned by the proposal. A decision on the proposal was not made by the Government before work needed to commence. In order to avoid increases in costs and losses in time, the Government, at the request of HKYF, has agreed to instruct the implementation of the design proposed by the HKYF company based on an undertaking by HKYF to reimburse to the Government all additional costs to be incurred by the Government as a consequence of the Government ordering implementation of the alternative design. Such reimbursement shall be made whether or not the Government approves the proposal.

The estimated additional costs are expected to be approximately HK$150 million. The first payment made during the year ended 31st December, 1993 amounted to HK$17,015,595 and has been included as pier development costs.

(a) If the HKYF's proposal for development is granted this amount will be carried forward as properties under development until completion of the development project.

(b) If approval for development is not granted, the relevant amount, together with all future estimated costs to be in curred, will be written off to the profit and loss account.

The directors of the company believe that the Government will accept the proposal made by HKYF, and that the development project will go ahead as planned, and accordingly do not consider that any provision is required.

Hong Kong Ferry (Holdings) Company Limited has agreed to

guarantee the reimbursement by its subsidiary HKYF, of the additional costs to the Government.

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