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The Kowloon Motor Bus Holdings Limited


Notes on the Accounts

Note: [12] [13] [14] [15] [16] [17] [18] [19] [20] [21]

  1. CURRENT ASSETS


  2. CURRENT LIABILITIES


  3. SHARE CAPITAL


  4. RESERVES


  5. CONTINGENCY PROVISION - INSURANCE


  6. DEVELOPMENT FUND


  7. BANK LOANS AND OVERDRAFTS


  8. STAFF RETIREMENT FUND


  9. UNDERTAKINGS FOR CHANGE OF PROPERTIES

    The title deeds of certain of the Group's properties with a net book value of HK$147,241,000 at 31 December 1996 (1995: HK$143,931,000), have been deposited with certain banks together with agreements of undertaking to execute a legal mortgage in an event of default of the Group's obligations under the respective loan agreements.

    At 31 December 1996, the Group's liabilities covered by the above agreements of undertaking amounted to HK$81,429,000 (1995: HK$117,143,000).
  10. COMMITMENTS


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