1996 — Page 20

財務業績評議

Commentary on Financial Results

HKF

本集團業務的資金來源與去年相若,主要來自物業

投資的收入、一九九四年發行股份所得款項的利息

收入及短期無抵押銀行借款,於一九九六年十二月

三十一日此等借款為二億港元。

As for the previous year, funding for the Group's activities was

principally generated from cashflows from the Property Investment

Operation, interest income from 1994 Rights Issue proceeds and

short term unsecured bank borrowing which as at 31 December 1996,

stood at HK$200 million.

本集團的流動資金比率由一九九五年十二月三十一

日的兩倍增至一九九六年十二月三十一日的二點五

倍。一九九四年發行股份所得款項餘下約十億港

元,以短期存款存放於銀行。

Current ratio of the Group improved from 2.0 as of 31 December

1995 to 2.5 as of 31 December 1996. The remaining proceeds from

the Rights Issue in 1994 of about HK$1 billion have been placed on

short term bank deposits.

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主席報告

Chairman's Statement

本人謹以欣悦心情向各股東報告本集團年內之業

績。