The financial situation of the association did not improve over the past year. We still rely on the Surplus from the annual ball as our major source of operating income. The performance of our investment was very much affected by the general financial market as well. The General Committee continues to look for ways to improve on the cost efficiency of our service to the members.

As President, I represented the association to participate in various activities of DBS. A DBS fund raising committee was formed to raise fund for the development of DBS Primary Division and upgrade of DBS facilities. I appreciated the support of some 40 old boys who joined the DBS boys, parents and teachers in the DBS 10K FunD Run held in February 2002. The overall amount raised from the event was in the region of HK200,000. We should also thank the DBSAC which provided the technical support to the event.

The DBS Committee issued a consultative paper on "DBS joining the Direct Subsidy scheme" in January 2002. We put the document on the web site and also sent it out to all members. A good number of old boys attended the open discussion session held on 3 February 2002. Some old boys wrote in to express their views on the issue. Based on the responses received by the DBS Committee, there is an overall support to DBS on joining the DSS. I understand a follow up document on the issue will soon be released to all stakeholders, including old boys, to seek further views. We shall try our best to relay the document to as many old boys as possible. I encourage all old boys to respond to the document and give the DBS Committee your support on the way forward.

I take this opportunity to thank the General Committee and all others who have supported the running of DSOBA in the past year. The participation of members and old boys are most important to our continued development. Ms Amy Au Yeung, our secretary has just completed her ten years service in DSOBA. She has been most patient in dealing with old boys and committee members. A particular note of thank to Thomas Ho (83) and Peter Yam (78) who left the Committee during the year. They were replaced by Chow Kee Wing (63) and Horace Chan (66).