by Siu Kam-Shing. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1992. / Includes bibliographical references (leaves 49-52). / ACKNOWLEDGEMENT --- p.iii / ABSTRACT --- p.iv / TABLE OF CONTENTS --- p.v / LIST OF TABLES --- p.vi / LIST OF GRAPHS --- p.vii / INTRODUCTION --- p.1 / BACKGROUND AND HISTORY --- p.3 / COMPANY OBJECTIVE AND INVESTMENT EVALUATION --- p.6 / DISCUSSION ON INVESTMENT EVALUATION --- p.9 / Importance of Investment Decisions --- p.9 / Evaluation Methods Adopted by HKCG --- p.11 / DETERMINATION OF COST OF CAPITAL --- p.13 / Constant growth discount factor formula --- p.14 / Capital Asset Pricing Model --- p.19 / Adjusting Beta for Leverage --- p.22 / Desired Capital Structure --- p.22 / Beta in Absence of Leverage --- p.23 / GENERAL PROJECT DESCRIPTION --- p.26 / Background --- p.26 / Market Situation --- p.27 / Domestic Sector --- p.27 / Commercial Sector --- p.28 / Sales Revenues and Expenditures --- p.31 / Sales Revenues --- p.31 / Capital Expenditure --- p.32 / Operating Expenditure --- p.32 / Financial Evaluation --- p.36 / PROJECT EVALUATION UNDER UNCERTAINTIES --- p.38 / Risk Profiles for Uncertainty Factors --- p.40 / Generating Overall Risk Profile by Simulation --- p.44 / SUMMARY --- p.46 / BIBLIOGRAPHY --- p.49 / APPENDIX1 --- p.53 / APPENDIX2 --- p.54 / APPENDIX3 --- p.55