as at 31 March 2007
(Expressed in thousands of Hong Kong dollars)

	Note	2007		2006
Non-current assets
Property, plant and equipment	9	355,130		376,180
Intangible assets	10	59,603		69,307
Held-to-maturity securities	11	100,380		99,451
		515,113		544,938
Current assets
Debtors and prepayments		21,555		15,467
Amounts due from related parties		5,366		5,358
Placements with banks		503,500		454,700
Cash and bank balances		9,954		7,936
		540,375		483,461
Current liabilities
Deferred revenue	12	4,310		3,030
Customers' deposits	13	22,953		22,982
Creditors		5,409		22,727
Amounts due to related parties		1,288		1,460
Provision for employee benefits		841		2,184
Tax payable		5,971		6,383
		40,772		58,766
Net current assets		499,603		424,695
Total assets less current liabilities		1,014,716		969,633
Non-current liabilities
Deferred tax	14	19,053		23,710
Provision for employee benefits		67,276		65,296
NET ASSETS		928,387		880,627
CAPITAL AND RESERVES
Trading fund capital	15	118,300		118,300
Retained earnings	16	751,331		692,575
Proposed dividend	7	58,756		69,752
		928,387		880,627

K.A. SALKELD, J.P.
Land Registrar and General Manager,
Land Registry Trading Fund
11 September 2007

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