LAND REGISTRY TRADING FUND
BALANCE SHEET

as at 31 March 2009
(Expressed in thousands of Hong Kong dollars)

	Note	2009		2008
Non-current assets
Property, plant and equipment	9	313,156		337,011
Intangible assets	10	53,771		55,867
Held-to-maturity securities	11	100,082		100,216
		467,009		493,094
Current assets
Debtors and prepayments		16,272		19,732
Amounts due from related parties		9,773		6,419
Tax recoverable		6,460		-
Bank deposits		471,000		653,000
Cash and bank balances		19,169		31,911
		522,674		711,062
Current liabilities
Deferred revenue	12	10,219		12,414
Customers' deposits	13	25,585		24,456
Creditors		7,560		11,076
Amounts due to related parties		2,572		2,228
Provision for employee benefits		3,342		1,955
Tax payable		-		16,247
		49,278		68,376
Net current assets		473,396		642,686
Total assets less current liabilities		940,405		1,135,780
Non-current liabilities
Deferred tax	14	11,373		15,888
Provision for employee benefits		77,879		74,249
NET ASSETS		851,153		1,045,643
CAPITAL AND RESERVES
Trading fund capital	15	118,300		118,300
Retained earnings	16	586,094		639,337
Proposed dividend	7	146,759		288,006
		851,153		1,045,643

Ms Olivia NIP, J.P.
Land Registrar and General Manager,
Land Registry Trading Fund
25 August 2009


The Notes to the Financial Statements form part of these financial statements.