1997 — Page 20

財務業績評議

Commentary on Financial Results

流動資金及財政來源

於一九九七年十二月三十一日,本集團之股東權益

為六十一億九百萬港元,較去年增加百分之四點

二。此溫和增長乃由於本集團之物業重估儲備金經

每年重估後輕微增加所致。

Liquidity and Financial Resources

HKF

As of 31 December 1997, shareholders' funds of the Group

amounted to HK$6,109 million, showing an increase of 4.2%

as compared to that recorded in the previous year. This mild

growth was mainly attributed to the slight increase in the Group's property revaluation reserves as a result of annual

revaluation.

本集團業務之資金來源與去年相若,主要來自投資

物業之租金、一九九四年供股所得款項之利息收入

及短期無抵押銀行貸款,於一九九七年十二月三十

一日此等貸款為一億八千萬港元。

於一九九七年十二月三十一日,本集團之流動資產

為十四億八百萬港元,而流動負債則為四億七千二

百萬港元。本集團之流動資金比率由一九九六年十

二月三十一日之二點五倍改善至一九九七年十二月 三十一日之三倍。一九九四年供股所得餘款約十億

港元仍作短期存款處理。

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

the year was principally generated from rental on investment

properties, interest income from 1994 Rights Issue proceeds

and short term unsecured bank borrowing which as of 31

December 1997, stood at HK$180 million.

Current assets of the Group were recorded at HK$1,408

million as compared to the Group's current liabilities of

HK$472 million as of 31 December 1997. Current ratio of the

Group improved from 2.5 as of 31 December 1996 to 3.0 as of 31 December 1997. The remaining proceeds from the Rights

Issue in 1994 of about HK$1 billion are still placed on short

term deposits.

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