The following is the transcript of the remarks by the Chief Executive, Mr Tung Chee Hwa, to reporters at the end of his visit to Singapore today (Friday):

I am going back to Hong Kong tomorrow after I think a very useful, constructive and successful visit here in Singapore. While here I met with leaders of this country and at the same time see business and commercial personalities discuss matters of mutual interest. I think they were all very happy that the return of Hong Kong and the SAR Government for the last two months has been functioning well, functioning smoothly, and one country, two systems foundation is being laid.

I had this morning the opportunity to look at Singapore's housing programme, education long-term thinking and all this has been very useful and very helpful to me and when I go back to Hong Kong I will be sitting down with my colleagues in the Government, with Anson and other Secretaries to go through some of our thoughts with a view to develop further ideas.

It's been a useful visit.

I also spent some time just now with Senior Minister Lee, Lee Kuan Yew, and had some very useful discussions. He's obviously happy to see that the transition has been smooth and things going on well in Hong Kong. We also talked about the currency turmoil recently and about the stock market turmoil. It was a very useful and very helpful discussion.

Question (Cliff Bale RTHK): On the question of housing, and price stabilisation in particular, what sort of ideas that you have learnt in Singapore will you be taking back for consideration in Hong Kong?

Mr Tung: I think it's a whole range of issues about housing that I have some new knowledge of and I look forward to discussing these issues with my colleagues in Hong Kong and at that time I will make a decision on how to go ahead.