irasia.com - Transport International Holdings Limited

The Kowloon Motor Bus Holdings Limited

Notes on the Accounts

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

CURRENT ASSETS
CURRENT LIABILITIES
SHARE CAPITAL
RESERVES
CONTINGENCY PROVISION - INSURANCE
DEVELOPMENT FUND
BANK LOANS AND OVERDRAFTS
STAFF RETIREMENT FUND
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).
COMMITMENTS