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Land Registry releases Trading Fund Annual Report

     The Land Registry today (October 22) released the Land Registry Trading Fund (LRTF) Annual Report 2013/14.

     "For the financial year ending March 31, 2014, the LRTF posted a profit of $75.4 million and achieved a 15.8 per cent financial return on fixed assets. It will pay a dividend of $37.7 million to the Capital Investment Fund," the Land Registrar, Miss Mary Chow, said.

     According to the report, the total number of documents registered and searches of land registers decreased by 29.1 per cent and 14.9 per cent respectively when compared to the financial year of 2012/13.

     Miss Chow said that the Land Registry exceeded all targets set in its performance pledges and implemented various enhancements to the Integrated Registration Information System (IRIS) Online Services. The Land Registry also launched a mobile version of the IRIS Online Services in the second quarter of 2014 to facilitate online searches through the IRIS.

     Regarding the development of a title registration system, the Land Registry has further revised the proposed Two-Stage Conversion Mechanism and has been discussing the revised proposal with major stakeholders.

     The report was tabled in the Legislative Council today. It can also be viewed or downloaded at the Land Registry's website,

Ends/Wednesday, October 22, 2014
Issued at HKT 15:00


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