Hong Kong Land Registry Trading Fund achieved a net post-tax profit of 117.5 million Hong Kong dollars (about US$15.16 million) for the financial year ended March 31, according to a report released here on Wednesday.

The figure amounts to a return of 20.9 percent on average net fixed assets, the report said.

Hong Kong Land Registrar Kim Salkeld said the registry will upgrade service quality and make steady progress towards the introduction of title registration.

"As well as the work to prepare for title registration, we will need to respond to growing demand from the public and other branches of government for increased integration and ease of use of electronic services. We will also face continued pressure to demonstrate to the public that we provide services of the highest quality and value," Salkeld said.

The Integrated Registration Information System, launched on February 12, 2005, was upgraded early this year, with a new function added and land-record printing streamlined.

"We have seen a 39 percent rise in the number of business subscribers since the launch of the system and 87 percent of the 4. 4 million searches made during the year used our electronic services," Salkeld added.

(Xinhua News Agency October 18, 2007)