K Wah International

In Brief

PUBLISHED : Thursday, 09 August, 2007, 12:00am
UPDATED : Thursday, 09 August, 2007, 12:00am

David Li boosts stake in Bank of East Asia

David Li Kwok-po, the chairman and chief executive of Bank of East Asia, increased his stake in the lender to 2.37 per cent from 2.33 per cent, according to a disclosure to the stock exchange.

It said Mr Li bought 500,000 shares at an average of HK$44.86 each on August 3, raising his total stake to 37.11 million shares.

The shares were worth HK$22.43 million based on the average purchasing price. Maria Chan

K Wah, Guangzhou R&F invest in mainland property sites

K Wah International acquired a 42,222 square metre commercial-residential site in Huadu district, northern Guangzhou, for 206 million yuan yesterday. The developer outbid China Vanke and Poly Real Estate Group by offering 4,598 yuan per square metre.

Separately, Guangzhou R&F Properties paid 92.36 million yuan for a Huadu district residential site - or an accommodation value of 426 yuan per square metre. Yvonne Liu