Here is one that was a bit tricky to place - mainly because it disappeared a while ago and there are only a limited number of snaps in the public domain that it can be compared to. However, I am reasonably confident that I have the right place thanks to the location of Tai Po Road and what looks to be the So Uk Estate in the background.
The Carlton Hotel was one of three hotels that were situated in the New Territories - yes, this part of Kowloon is strictly speaking part of the NT - the other two being the Shatin Heights Hotel in Tai Wai and The Rose Garden in Yuen Long. I believe it was demolished sometime at the end of the 1990's and made way for two apartment complexes: Villa Carlton and Monte Carlton, so I guess the name lives on even if the hotel has disappeared.
In case you haven't guessed, in the film the place is supposed to be a mental hospital where Billy Lo's girlfriend is convalescing from the shock of Billy's supposed death. Great view of Kowloon from the hotel garden I think, but sadly no longer there due to so much development.