Abstracts » Business, international

Hong Kong

Article Abstract:

The new airport at Chek Lap Kok, Hong Kong, opened on Jul 6, 1998. The airport generated 122,000 movements using one runway in its initial operating period in FY 1998-1999. Although a number of delays occurred, both arrival and departure on-time performance were considerably over 80% by Dec 31, 1999. The second runway at the new airport opened for peak period operations from May 1999 and achieved full operation later in 1999. However, the economic downturn in the Pacific region exerted a considerably adverse effect on airport revenues.

Shipments data

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Hong Kong invests for the future

Article Abstract:

Chek Lap Kok Airport opened on Jul 6, 1998, with a terminal capacity for 35 million passengers and 3 million tons of freight and a single runway. The addition of another runway in May 1999 has raised movements to 45 per hour. Coupled with additional facilities at the Northwest Concourse, passenger capacity has been raised to 45 million from Jan 2000. After reducing the depreciation charge by HK$538 million for FY1999 to FY2000, the firm has moved into operating profit.

Strategy & planning

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Capital investments slows in Asia

Article Abstract:

Capital investments and growth in Hong Kong's Chek Lap Kok airport and Singapore Changi have slowed down. As of Mar 31, 1998, authorized capital commitments of the Airport Authority of Hong Kong were HK$2.88 billion, compared to 1997's HK$6.4 billion. Traffic in Singapore Changi increased by just 0.6 million in FY1998, half the annual increases registered in the previous years. Organizational surplus and investment income, however, increased by S$10 million and S$30 million respectively.

Capital expenditures, Singapore

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