There's a twist in this film and it involves a Cambodian Princess (played by Angela Mao) and an accompanying shipment of gold. The Cambodian party set up camp on a small plateau overlooking a rather picturesque bay. It turns out the bay is Tseung Kwan O (Junk Bay) and the plateau has since been built on with various developments on either side of what is now Razor Hill Road.
This small plateau is in an area called Pik Uk Au - or Pik Uk Gap - and Razor Hill Road starts from Clearwater Bay Road just opposite the famous Pik Uk prison. This 1976 view is now blocked at the end of the road by a development called Rise Park Villa. Razor Hill (or at least a lower part of it) is on the left in the the bottom two pictures.