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'$948m profit if map service privatised'

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Privatising survey and mapping services would bring the Government a windfall of more than $900 million in 10 years, according to consultants.

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The Lands Department's 1,100-strong Survey and Mapping Office could be turned into a corporation to reap $948 million over a decade, a government-commissioned study showed.

The office cost taxpayers $662 million in salaries in 1998-99 and earns $15.5 million through its services to the private sector each year.

Under the proposal, the Government would shoulder a start-up injection of $550 million and offer a loan of $160 million as working capital in the early years.

But the deficit in the first four years would be offset by a total surplus of $583 million after 10 years under the eight business opportunities mapped out by consultants, such as producing digital photo maps and panoramic views of Hong Kong.

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An efficiency gain of $333 million, profits tax paid to the Treasury and dividend payments from the corporation would make up the rest.

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