URA

FINANCIAL HIGHLIGHTS 91 The financial results of the Authority for the past ten years are summarised in the table below. In HK$’million Year ended 31 March 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Revenues for the year 1,413 9,663 3,647 3,690 5,341 1,169 9,904 7,422 5,035 13,868 Surplus/(deficit) for the year  (before interest income) (4,685) 6,993 2,159 2,431 4,292 (2,387) 918 4,302 2,898 11,718 Surplus/(deficit) for the year (4,459) 7,018 2,209 2,584 4,437 (2,270) 1,076 4,451 3,142 12,038 Accumulated surplus/(deficit) (41) 6,977 9,186 11,770 16,207 13,937 15,013 19,464 22,606 34,644 Capital 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 Net assets 9,959 16,977 19,186 21,770 26,207 23,937 25,013 29,464 32,606 44,644 Debt securities issued less  unamortised finance charges – 1,497 1,498 1,699 3,288 4,777 4,582 3,285 3,288 2,791 Properties under  development (Note 1) 8,289 14,114 15,956 19,066 22,431 28,113 21,516 20,695 19,028 25,400 Land premia waived  by the Government  during the year (216) (3,177) (922) (64) (1,018) – (7,785) (940) (180) (4,077) Surplus/(deficit) for the year  if no land premium waiver (4,675) 3,841 1,287 2,520 3,419 (2,270) (6,709) 3,511 2,962 7,961 Accumulated surplus/(deficit)  if no land premium waiver (1,366) 2,475 3,762 6,282 9,701 7,431 722 4,233 7,195 15,156 Note: 1. “Properties under development” includes properties under development before provision for impairment and joint development projects.