Daily Information Bulletin
Issued by Hong Kong Special Administrative Region Government Information Services
Garden Road, 5th-8th Floors, Murray Building, Hong Kong. Tel: 2842 8777




Monday, January 19, 1998



CONTENTS
========
1.  CE meets Jim Leach
2.  Fresh impetus on 'Clean Hong Kong Campaign'
3.  Travel Pass Pilot Scheme to be implemented
4.  Multiple Taiwan visit permits
5.  Unemployment and underemployment statistics
6.  Update on avian flu
7.  Provisional voter registers being compiled
8.  Takarazuka Revue pays courtesy visit to SES
9.  Consultancy study on planning and development in NE NT
10. EIA Study Report for Tsing Yi North Coastal Road
11. Anti-cigarette smuggling award scheme to continue in 1998
12. Lunar New Year holiday reminder
13. Value of manufacturers' orders-on-hand in November 1997
14. Central Register of Establishments
15. Hong Kong Monetary Authority tender results
16. Water storage figure



1.  CE meets Jim Leach
    ******************

     The Chief Executive, Mr Tung Chee Hwa, met a US
Congressional Delegation led by Representative Jim Leach
today (Monday) to exchange views on the regional economic
outlook.

     At the meeting Mr Tung briefed the delegation on the
latest economic situation in Hong Kong and highlighted
the strong economic fundamentals that underlined our
confidence for an early recovery.

     "We have huge foreign exchange reserve and fiscal
surplus; clear market rules and regulations; and an
efficient open market that responds quickly to external
market changes," he said.

     "The linked exchange rate system provides us with
the certainty and stability that are necessary for our
economic development amidst the regional financial
turmoil," he said.  "We are confident and able to
maintain the system and see no reason for changing it."

     Mr Tung told the delegation that there was no need
for competitive devaluation of the Hong Kong dollar as 84
per cent of our GDP was composed of the services sector
which was not in direct competition with other regional
economies affected by the recent financial turmoil.

     He said that we were sensitive to the fact that
adjustments in our stock and property markets would be
painful in the short run.  However, he pointed out that
the adjustments would bring us back to realistic levels
and make us more competitive in the region over the long
term.

     "The IMF is the appropriate vehicle to assist
regional economies in adjusting themselves and regaining
their economic vitality.  Support from the US Congress is
essential for the IMF to perform this important task," Mr
Tung said.

     "I believe that the 21st century will still be the
Asia Pacific Century," he said.  "Asian economies possess
the strengths for economic recovery: we have a high saving
rate; our labour force is flexible and hardworking; and
we are receptive to technology transfer and free trade.
These strengths remain and I see no reason why we should
suddenly lose confidence in ourselves."

     "As the international market becomes increasingly
globalised, recovery in the Asian markets would no doubt
bring benefit to the American and other markets," he
added.

End


2.  Fresh impetus on 'Clean Hong Kong Campaign'
    *******************************************

     The acting Chief Secretary for Administration, Mr
Michael Suen, today (Monday) met with the chairmen of the
municipal councils and their executive directors to
exchange views on how to give fresh impetus to the Clean
Hong Kong Campaign.

     After the meeting, Mr Suen said, "There is a need to
give the Clean Hong Kong Campaign a fresh appeal to our
population.  The council chairmen agreed that the focus
of the campaign should be geared towards involving
participation from the mass public.

     "The Clean Hong Kong Campaign is an important
element underpinning public hygiene.  The campaign
involves a long-term education process of our population.
The Administration is committed to making Hong Kong an
even cleaner and more attractive place and will join
hands with the municipal councils to achieve this."

     At the meeting, Mr Suen conveyed to the municipal
council chairmen the Administration's appreciation of the
excellent work of the councils over the past 25 years in
organising the Clean Hong Kong Campaign.

     Mr Suen thanked the chairmen for the useful dialogue
and said views are welcome on the broader aspects
governing community hygiene.

End


3.  Travel Pass Pilot Scheme to be implemented
    ******************************************

     The Immigration Department announced today (Monday)
that the Travel Pass Pilot Scheme to enhance the mobility
of business travellers by facilitating bona fide frequent
travellers to the Hong Kong Special Administrative Region
(HKSAR) will be implemented on January 26 (Monday).

     "The Travel Pass valid for three years and multiple
entries will enable the holder to come to the HKSAR
without a visa for business or social visit purposes and
stay up to two months on each entry.  Travel Pass holders
will be allowed to use 'residents' counters where
available at the HKSAR immigration control points and can
enjoy streamlined immigration clearance," a spokesman for
the Immigration Department said.

     "Application is open to frequent visitors who hold
valid passports and are eligible to come to the HKSAR
without a visa or entry permit for visit purpose.  They
should have genuine needs to visit Hong Kong frequently
and have come for visits trouble free on five or more
occasions (other than return from side trips to the
Mainland of China or the region of Macau) in the 12-month
period immediately preceding the application, or they can
satisfy the Director of Immigration that their visits may
bring substantial economic benefits to the HKSAR,"  the
spokesman added.

     "The Pilot Scheme, with a quota of 10,000, is open
to applications on a first-come, first-served basis.
Application forms and guidance notes for the scheme is
available free of charge from the Information Office of
the Immigration Department, and the Hong Kong Economic
and Trade Offices overseas as from tomorrow (Tuesday).

     Completed application forms may be submitted by
post, in person or through a reference in the HKSAR on or
after January 26 to the Visitors Section (Travel Pass
Application Unit), Immigration Department, sixth floor,
Immigration Tower, 7 Gloucester Road, Wan Chai, Hong Kong.

     Fee for the Travel Pass is HK$500.  A cashier order,
bank draft drawn on a bank in the HKSAR or a crossed
cheque from a bank account in the HKSAR in Hong Kong
currency to the "The Government of the Hong Kong Special
Administrative Region" should be submitted together with
the application form.

     Persons who wish to have more information about the
Travel Pass Pilot Scheme may contact the Immigration
Department on telephone number (852) 2824 6111, by fax
(852) 2877 7711 or through the Internet
http://www.info.gov.hk/immd/.

End


4.  Multiple Taiwan visit permits
    *****************************

     The Immigration Department announced today (Monday)
the issue of multiple Taiwan visit permits with pre-
printed landing conditions.

     "With effect from next Monday (January 26), multiple
Taiwan visit permits with pre-printed landing conditions
will be issued.  The permits will be identical to the
existing permits except they bear pre-printed landing
conditions," a spokesman for the Immigration Department
said.

     "Chinese Taiwan residents visiting Hong Kong on the
visit permit are allowed a stay of 14 days.  At present,
landing conditions are endorsed on the permit manually.

     "With the pre-printed landing conditions on the
permit, the immigration clearance time will be reduced by
two seconds for each passenger," the spokesman pointed
out.

     "The permits are designed to streamline clearance
procedures so as to shorten the processing time of the
holders at Hong Kong check points.

     "The application procedures for the visit permits
will also remain unchanged.  Valid permits in circulation
are still good for visits to Hong Kong," the spokesman
said.

End


5.  Unemployment and underemployment statistics
    *******************************************

     The seasonally adjusted unemployment rate for the
period September - November 1997 was 2.4 per cent, and
the underemployment rate was 1.1 per cent, according to
the latest labour force statistics released today
(Monday) by the Census and Statistics Department.

     For the period October - December 1997, both the
provisional seasonally adjusted unemployment rate and the
provisional underemployment rate were higher, at 2.5 per
cent and 1.3 per cent respectively.

     Comparing the latest three-month period October -
December 1997 with the period September - November 1997,
the increase in unemployment rate occurred mainly in the
manufacturing, restaurants, transport, and decoration and
maintenance sectors, which was only partly offset by the
decrease in unemployment rate in the wholesale, and
foundation and superstructure sectors.  The unemployment
situation in the other major sectors was broadly stable.

     As to the underemployment rate, the increase was
mainly concentrated in the construction sector,
especially in the decoration and maintenance sector.  The
underemployment situation in the other major sectors
remained broadly stable.

     A Government Secretariat spokesman said that overall
labour market conditions eased further in recent months.
Nevertheless, total employment continued to show robust
growth over a year earlier.

     In the three months ending November 1997, total
labour supply rose to 3,290,600, of which 3,214,800 were
employed and 75,700 were unemployed.  In the same period,
the number of underemployed persons stood at 37,100.

     The unemployment and underemployment statistics were
obtained from a continuous General Household Survey.  The
survey for September - November 1997 covered a quarterly
sample of some 23,500 households or 78,200 persons,
selected scientifically to represent the land-based
civilian non-institutional population in Hong Kong.  Data
on labour force characteristics were obtained from the
survey by interviewing each member aged 15 and over in
the households sampled.

     In the survey, the definitions used in measuring
unemployment and underemployment follow closely those
recommended by the International Labour Organisation.

     Being "seasonally adjusted" refers to the fact that
unemployment rate has been adjusted for seasonal
variations in the proportion of first-time job-seekers in
the labour force.

     Detailed analysis of labour force characteristics is
given in the report on the General Household Survey which
is published four times a year.

     The next report covering the quarter ending December
1997 will be on sale at the Government Publications
Centre, ground floor, Low Block, 66 Queensway, Hong Kong,
by the end of March 1998.

End


6.  Update on avian flu
    *******************

     The Department of Health (DH) announced today
(Monday) that there was no new case of influenza A (H5N1)
today.

     The total number of cases remains 18 confirmed and
one suspected cases.

     The conditions of other cases remain the same as of
January 16.

     Meanwhile, it was noted that a 26-year-old female
who was admitted to Queen Mary Hospital yesterday for
flu-like illness was tested negative for avian flu,
according to the results of a preliminary test.

End


7.  Provisional voter registers being compiled
    ******************************************

     The Registration and Electoral Office (REO) is
working flat out to process the data collected from new
applicants and previously registered electors now that
the registration drive for the 1998 Legislative Council
elections has been concluded.

     The objective is to compile provisional registers of
electors/voters and omissions lists before the middle of
next month for the public to check their registration
particulars, the Chairman of the Electoral Affairs
Commission, Mr Justice Woo Kwok-hing, told the media
today (Monday).

     Members of the public will then have an opportunity
to raise objections or lodge appeals regarding any entry
or omission before February 21, he said.

     Cases of objections and claims will be referred to
the Revising Officer, who is a member of the Judiciary,
for determination.  His decisions will be reflected in
final registers to be published before March 15.

     It is estimated from the total number of forms
received that the total electorate of geographical
constituencies has gone up from 2.53 million to 2.77
million.  This represents a registration rate of nearly
70 per cent.

     "A significant proportion of the estimated 3.96
million eligible electors in Hong Kong will be able to
vote in the May elections to choose Legislative
Councillors of their choice," Mr Justice Woo said.

     The exact figure will be known when the provisional
register is published next month.

     Out of the 580,000 voter registration forms for the
geographical constituencies received, it is estimated
that half of them are from new electors.  The remaining
are reports of change of residential address.

     "These updates will enable the REO to put together a
much more accurate electoral roll," Mr Justice Woo said.

     "Now that we have confirmed the whereabouts of about
290,000 previously registered electors who have moved,
they will certainly be able to receive our notice to
remind them to go to the polls on May 24," he added.

     Releasing registration figures for functional
constituencies and the corresponding Election Committee
subsectors, Mr Justice Woo was encouraged to see a
sevenfold increase in the number of applications as
compared with the figure on December 30.

     More than 25,100 applications for functional
constituencies have been received from 12,700 individuals
and 12,400 bodies.

     In addition, on the basis of information available,
123,000 individual electors and 3,800 corporate electors
have been informed by notifications that they are
registered if they do not raise objections.

     Put together, the functional constituency figures
amount to more than half of the potential electors.

     A majority of the registered corporate electors
(more than 12,100) can cast their votes because they have
appointed authorised representatives.

     For the seven Election Committee subsectors without
an equivalent functional constituency, 4,200 individuals
and 140 bodies have been informed by notifications that
they are registered if they do not raise objections.  
More than 1,300 new applications have been received.
Altogether more than 480 authorised representatives have
been appointed to vote.

     Mr Justice Woo observed that some functional
constituencies had seen especially good response towards
the end of the exercise.  Examples are the Labour,
Tourism, Finance, Agriculture and Fisheries, Transport
and Insurance functional constituencies.

     "Even response from eligible electors in five new
functional constituencies - the Sports, Performing Arts,
Culture and Publication; Import and Export; Textiles and
Garment, Wholesale and Retail, and Information Technology
- has improved significantly," he said.

     Mr Justice Woo thanked all residents and
organisations who had contributed to the smooth
completion of the voter registration drive.

     "The 30,000 students, teachers and co-workers who
knocked on the doors of every family during the week from
December 6 also deserve our thanks," he said.

     "Not only have they helped people at their home sign
up as electors, they have brought the message about the
first Legislative Council elections in the Hong Kong
Special Administrative Region to every corner of the
territory," he said.

End


8.  Takarazuka Revue pays courtesy visit to SES
    *******************************************

     Representatives of the world famous Takarazuka Revue
from Japan now performing in Hong Kong paid a courtesy
visit on the Secretary for Economic Services, Mr Stephen
Ip Shu-kwan, this (Monday) afternoon.

     The 65-member troupe was brought in by the Hong Kong
Tourist Association as part of its "Spotlight Hong Kong -
towards the millennium" programme to cement Hong Kong's
position as the Events Capital of Asia.

     Mr Ip welcomed the troupe's first ever appearance in
Hong Kong in its 84-year history.

     He noted that Takarazuka's superb performance had
not only brought enjoyment to local audience but also
attracted many overseas visitors to come to Hong Kong
including about several thousands of the troupe's fans in
Japan.

     Today's courtesy call included Mr Motohiro Sugai,
the President of Hankyu Corporation, the parent company
of Takarazuka Revue Company; Mr Shinji Ueda, the
President of the company; and Mr Yoshisuke Umezawa, the
Manager of Special Project Department, the Sport Nippon
Newspaper, one of the major sponsors of the troupe's Hong
Kong performance.

     The troupe is performing at the Hong Kong Cultural
Centre until January 25, 1998.  The show is also
sponsored by Cathay Pacific Airways, OOCL and HKTA and
supported by the Provisional Urban Council.

End


9.  Consultancy study on planning and development in NE NT
    ******************************************************

     The Planning Department (PD) and the Territory
Development Department (TDD) today (Monday) jointly
commissioned a consultancy study on the scope and
feasibility of accommodating strategic growth
developments in the northeast New Territories.

     The "Planning and Development Study on the northeast
New Territories" will be carried out in two stages, the
first on planning and led by the PD, and the second stage
on engineering and site investigation, headed by the TDD.

     This is one of the three integrated studies featured
in the 1997 Policy Address, and is a positive step
towards meeting the Chief Executive's target of producing
85,000 flats a year.

     The planning study aims to identify development
areas in the northeast New Territories to accommodate an
additional population of 120,000 by 2011, while the
engineering study will investigate the developments and
infrastructure required in the area.

     A new approach will be adopted to allow the planning
and engineering assessments to be carried out
concurrently as an iterative process, thus reducing the
development process by one to two years.

     The study is due for completion by mid-2000 at a
cost of $57 million.  An agreement was signed today by
the Project Manager of the TDD's New Territories North
Development Office, Mr Carl Maunder, and a representative
of the consultancy firm Maunsell Consultants Asia
Limited.

     The recommended outline development plan will be
completed early next year and the relevant provisional
district boards will be consulted on the recommendations.

     A similar integrated study on the northwest New
Territories was commissioned in October last year and is
due for completion by early 2000.

End


10. EIA Study Report for Tsing Yi North Coastal Road
    ************************************************

     The Final Report on the Environmental Impact
Assessment (EIA) Study on the proposed Tsing Yi North
Coastal Road, a dual two-lane carriageway linking Tsing
Tsuen Bridge to Northwest Tsing Yi Interchange, is now
ready for public access.

     The 2.2 km carriageway, when completed, will form
part of the principal access to the new Hong Kong
International Airport in Chek Lap Kok.

     Construction of the carriageway will commence in
early 1999 for commissioning in early 2002.

     Main mitigation measures proposed in the EIA Study
include the construction of noise semi-enclosure over Tam
Kon Shan Viaduct and noise barrier along its adjacent
slip road near Cheung On Estate.

     The Study was conducted in February 1996 by Mouchel
Asia Ltd as consultant to the Highways Department.

     It was presented to the then Kwai Tsing District
Board in September 1996.  Comments on the proposed
mitigation measures were taken into account during the
preparation of the Final Report.

     Members of the public may read the Final Report and
Executive Summary of the Study at public reference
libraries of the provisional municipal councils.

     They can also purchase the Final Report, at $400 a
copy, or collect the Executive Summary free of charge at
the office of the Highways Department/New Territories
Region, second floor, Ho Man Tin Government Offices, 88
Chung Hau Street, Ho Man Tin.

End


11. Anti-cigarette smuggling award scheme to continue in 1998
    *********************************************************

     The Hong Kong Customs and Excise Department and the
Tobacco Institute of Hong Kong today (Monday) renewed
their agreement to operate an Informant Reward Scheme,
whereby the Tobacco Institute will offer up to $500,000
for information about cigarette smuggling activities.

     Speaking at a signing ceremony to renew the scheme,
the Assistant Commissioner of Customs and Excise
(Administration and Excise) Mr Chik Wah-wai, appealed to
members of the public for more information on illegal
tobacco imports.

     Over the past three years the Tobacco Institute has
paid almost $1 million to individuals who have reported
crimes related to the illegal import of non-duty-paid
tobacco products.

     The Chairman for the Tobacco Institute, Francois
Stettler said, "It is clear that rewarding people who
provide information leading to the successful prosecution
of criminals involved in cigarette smuggling supports the
highly professional efforts of Customs and Excise in
combating this crime.  By taking a united stance against
cigarette smuggling we aim to combat the damage it does to
the economy and the community as a whole."

     The Informant Reward Scheme was introduced in 1994.
Reward paid, and the total contraband seized as a result
of information received are as follows:-

                    1995        1996        1997

Reward financed by  $300,000    $500,000    $500,000
the Institute       $140,000    $350,000    $460,000

Reward Paid

Illicit cigarettes  $10 million $30 million $27.5 million
involved 

     The present reward scale is:-

Quantity of cigarettes sized               Rate of reward 
on an occasion 

Between 500,000 and 1,000,000              $10,000

Between 1,000,001 and 1,500,000            $20,000

Between 1,500,001 and 2,000,000            $30,000

Over 2,000,000                             $50,000

     "The Scheme has proved to be an effective additional
means of tracking down and apprehending people engaged in
the illegal importation of tobacco products," Mr Chik
noted.

     In 1997, total reward of $460,000 was paid out in 15
cases, resulting in the seizure of 27.5 million sticks of
cigarettes.  In cash terms, the pay out was 31 per cent
above the 1996 figure.

     Mr Chik said the Department was determined to
repress all illicit cigarette activities.

     "Our Anti-Cigarette Smuggling Task Force will
continue to take stringent enforcement action against all
those engaged in the import and sale of contraband
cigarettes, and especially those involved in organized
syndicates." he added.

     Information on illegal tobacco imports can be
provided to the Department by:-

     (a) calling Customs hotline 2545 6182 (24 hours);

     (b) fax: 2543 4942 (24 hours)

     (c) sending letter to GPO Box 1166, or

     (d) reporting in person at any Customs and Excise
         Office,

End


12. Lunar New Year holiday reminder
    *******************************

     The Labour Department today (Monday) reminded
employers that Lunar New Year's Day (January 28), the
second day (January 29) and the third day (January 30) of
the Lunar New Year are statutory holidays for employees.

     Under the Employment Ordinance, all employees,
irrespective of their wage levels, are entitled to
statutory holidays.

     An employee employed under a continuous contract is
entitled to statutory holiday pay if he has worked
continuously for his employer for three months or longer
immediately before the statutory holiday.

     Holiday pay should be equivalent to an employee's
earnings on a full working day and should include basic
wages as well as allowances that can be expressed in
money terms such as cost of living, meal, travelling and
attendance allowances, attendance bonus, commission and
overtime pay.

     Where earnings vary from day to day, holiday pay
should be the average daily earnings during every
complete wage period, which could be between 28 and 31
days, preceding the holiday.

     If an employee is required to work on a statutory
holiday, he must be given 48 hours' prior notice.  His
employer must also arrange an alternative holiday within
60 days before or after the statutory holiday.  If the
employer and employee agree, any day within 30 days of
the statutory or alternative holiday may be taken by the
employee as a substituted holiday.

     Any employer who fails to comply with the provisions
on statutory holidays is liable to a maximum fine of
$50,000.

     Enquiries about statutory holidays can be made at
the Labour Department's hotline 2717 1771.

End


13. Value of manufacturers' orders-on-hand in November 1997
    *******************************************************

     The value of manufacturers' orders-on-hand for local
production in November 1997 decreased by 9% over a year
earlier, according to the provisional results of a
monthly survey released today (Monday) by the Census and
Statistics Department.

     Comparing November 1997 with November 1996,
decreases in the value of orders were recorded in the
plastic products industry (-16 per cent), the electronic
products industry (-15 per cent), the electrical products
industry (-15 per cent), the fabricated metal products
industry (-6 per cent), the textiles industry (-5 per
cent) and the wearing apparel industry (-5 per cent).

     However, increase in the value of orders was
recorded in the printing & publishing industry (+14 per
cent).

     Compared with October 1997, and bearing in mind that
this comparison may be affected by seasonal factors, the
value of manufacturers' orders-on-hand in November 1997
increased by 4 per cent.

     The Monthly Survey of Orders-on-hand covers a sample
of some 300 manufacturing firms engaging 50 or more
workers.

     Manufacturers' orders-on-hand refer to orders and
parts of orders received earlier by manufacturers for
local production which remain unfilled as at the end of
the reference month.  Orders received by traders not
engaged in production are included if such orders are
further placed to manufacturers for production locally.
However, orders placed to manufacturing firms for
production in the mainland of China and other places
outside Hong Kong are not included in this series of
orders-on-hand statistics.

     A spokesman of the Department pointed out that
caution should be exercised in interpreting the
manufacturers' orders-on-hand figures in a single month.
Instead, the trend movement of the series as displayed
over a wider span of time points should be looked at.

     The survey report for November 1997, at $6 a copy,
is now available for sale at the Government Publications
Centre, Queensway Government Offices, Low Block, ground
floor, Queensway, and at the Census and Statistics
Department Publications Unit, 19th floor, Wanchai Tower,
12 Harbour Road, Wan Chai.

     Enquiries about the survey results may be made to
the Industrial Production Statistics Section of the
Census and Statistics Department at 2805 6441.

     The following table shows the year-on-year
percentage changes in the value of orders-on-hand in
different manufacturing industries.

                       Percentage changes in the value of
                                  orders-on-hand in

                                Oct 97          Nov 97
                              Over Oct 96    over Nov 96
                              -----------    -----------
                              (Revised)     (Provisional)

All industries covered in the        -9               -9
    survey

    - Wearing apparel                -4               -5

    - Textiles                       -3               -5

    - Electronic products           -16              -15

    - Electrical products           -10              -15

    - Fabricated metal products     -14               -6

    - Plastic products              -19              -16

    - Printing and publishing       +10              +14

End


14. Central Register of Establishments
    **********************************

     The Census and Statistics Department maintains a
comprehensive and up-to-date computerised Central
Register of Establishments which contains information
relating to some 350 000 active establishments in Hong
Kong.

     The Register serves mainly as the sampling frame for
various economic surveys conducted by the Department.
Besides, many other government departments and private
organisations also make use of the records kept in the
Register in their publicity, business promotion, survey
and research work.

     Information kept in the Central Register of
Establishments is updated on a quarterly basis.  Updated
information in respect of the third quarter of 1997 is
now available.

     A sample listing containing 20 per cent of the
records randomly selected from the Register is accessible
by prospective users.

     Application for the supply of non-confidential
particulars (including the name, address, major type of
business and employment size class) of all or part of the
records in the 20 per cent sample listing can be made to
the Central Register of Establishments Section of the
Department.

     The information can be supplied in the form of
photocopies, specially-run magnetic tapes or floppy
diskettes.  A charge will be levied for this service, at
the following rates :

     * $6.5 per page of photocopy for the first 20 pages
       and $1.5 for each additional page thereafter; or

     * a charge of about $1,000 for a job requiring
       special computer run (exact amount depending on
       the complexity of the job concerned), if the
       information is required on magnetic tapes or
       floppy diskettes.  The magnetic tapes and floppy
       diskettes can be provided by the applicant, or by
       the Department at a charge of $144 per tape and $3
       per diskette respectively.

     Further details about the provision of this service
can be obtained from the Central Register of
Establishments Section of the Department at 2582 4760.

End


15. Hong Kong Monetary Authority tender results
    *******************************************


Tender date                      :   19 January 1998

Paper on offer                   :   EF Notes

Issue number                     :   1801

Issue date                       :   20 January 1998

Maturity date                    :   21 January 2008

Coupon                           :   9.89%

Amount applied                   :   HK$1,070 MN

Amount allotted                  :   HK$500 MN

Average price accepted (yield)   :   99.71 (10.18 PCT)

Lowest price accepted (yield)    :   99.20 (10.27 PCT)

Pro rata ratio                   :   About 33 PCT

Average tender price (yield)     :   98.91 (10.32 PCT)

End


16. Water storage figure
    ********************

     Storage in Hong Kong's reservoirs at 9 am today
(Monday) stood at 82.2 per cent of capacity or 481.965
million cubic metres.

     This time last year the reservoirs contained 461.505
million cubic metres of water, representing 78.7 per cent
of capacity.

End





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