1999 — Page 28

26

Hong Kong Ferry (Holdings) Co. Ltd.

Consolidated Balance Sheet

As at 31 December 1999

Net current (liabilities)/assets

Total assets less current

liabilities

Non-current liabilities

Note

1999

1998

HK$'000

HK$'000

HK$'000

HK$'000

(228,601)

1,070,131

4,525,384

4,383,242

Bank loans

19

600,000

Deferred taxation

20

26,500

21,500

626,500

21,500

NET ASSETS

3,898,884

4,361,742

CAPITAL AND RESERVES

Share capital

21

356,274

356,274

Reserves

22

3,542,610

4,005,468

3,898,884

4,361,742

The notes on pages 32 to 57 form part of these accounts.

Approved by the board of directors on 17 March 2000.

Colin K.Y. Lam

Chairman

Li Ning

Director