THURSDAY, JANUARY 5 CHINA Everbright International says following a series of restructurings the company's industrial investments on the mainland have performed well. It expects about 80 per cent of profit will come from these investments in China. The company also says that it plans to invest more than $1 billion in the expansion of the company's quality industrial ventures in China. It will also invest in high technology projects on the mainland. - SING TAO CNT Holdings says that Ronald Grierson resigned his position as director on December 31, 1994. - ECONOMIC JOURNAL DONGFANG Electric says the company is planning to produce parts for electric generators in China in co-operation with the General Electric Group of Canada and another foreign partner. However, it is not yet known when the plan will be approved. Dongfang estimates that investment for the project will be US$30 million. Dongfang is expected to be the single largest shareholder. - SING TAO ESSENTIAL Enterprises' major shareholder Unidanmark Asia boosted its stake in the company by 23.2 million shares on December 22, 1994. The action has lifted Unidanmark's holding in Essential to 17.26 per cent from 13.93 per cent. - ECONOMIC TIMES FAIRYOUNG Holdings' chairman Chan Kee-hwa reduced his stake in the company by 3.402 million shares on December 23, 1994. Mr Chan's holding in Fairyoung has declined to 62.45 per cent from 63.53 per cent. - ECONOMIC TIMES GOLD Peak Industries chairman Victor Lo Chung-wing expects that the company's profit will increase by about 20 per cent in the 1995 fiscal year. The expected growth rate is similar to the fiscal first-half increase. Meanwhile, Mr Lo says Gold Peak's investment over the next two to three years will exceed US$10 million. The funds will primarily be used to expand machinery and equipment and diversify its range of products. - ECONOMIC TIMES HONGKONG Bank has issued HK$50 million of three-year certificates of deposit (CDs). It is expected that HK$5 billion worth of CDs issued by different institutions will be launched on the capital market this month. - MING PAO JINHUI Holdings notified the stock exchange that China National Non-ferrous Metals Industry held 110.345 million shares as at October 31, 1994. This was equivalent to 20.48 per cent of Jinhui's issued share capital. - ECONOMIC TIMES MAANSHAN Iron & Steel says the company's product prices in the second half of 1994 fell further from the first half because of the economic austerity programme imposed by the Chinese Government and the loss of control over the import of steel. Price drops for some products were as much as 30 per cent. - ECONOMIC TIMES A SOURCE close to Ming Pao Enterprise says that the owners of two major Malaysian Chinese-language newspapers have discussed the possibility of building a stake in Ming Pao with CIM, Ming Pao's major shareholder. However, Ming Pao has chosen to establish a strategic partnership with the owner of the Singapore Daily , a Malaysian newspaper, with a view to developing the media market in Singapore and Malaysia. CIM says that there is no question of the company giving up its control over Ming Pao Enterprise. - ECONOMIC JOURNAL S MEGGA International says that the dismal performance of the company's main operations took its toll on its interim results in fiscal 1993-1994. Meanwhile, the temporary closure of the company's production facilities in the second half of the last fiscal year also had a negative impact on its earnings. The company says that the imposition of a value-added-tax in early 1994 was the major reason for a downturn in profit over the last fiscal year. - ECONOMIC JOURNAL ACCORDING to property sources, the MTRC has ranked the four consortiums bidding for property development rights above Tung Chung airport railway station. The consortium led by Sino Land is considered to be the most likely winner of the contract. - ECONOMIC JOURNAL SUN Hung Kai Securities has notified the stock exchange that it lifted its shareholding in Tian An China Investments by 6.929 million shares on December 28, 1994, an increase from 25.22 per cent to 26 per cent. - ECONOMIC TIMES YGM Trading's managing director Samuel Chan Wing-sun says that in the six months ending September 30, 1994, sales generated from the Taiwan market outstripped those generated from the Hong Kong market. This was in spite of lower profit margins and comparatively high tax rates in Taiwan. Mr Chan predicts operating revenues generated from YGM's Taiwan business in fiscal 1994-1995 will exceed HK$1 billion. Meanwhile, the potential of the Japanese apparel market has led Mr Chan to forecast YGM's sales in Japan will be one of the company's major sources of earnings in five years' time. - ECONOMIC JOURNAL WEDLAKE Holdings has notified the stock exchange that it has reduced its shareholding in Yukon Holdings through the placement of a further 60.898 million shares on Wednesday. This is equivalent to 7.9 per cent of Yukon's issued share capital. Together with the number of shares which Wedlake sold earlier, the reduction in shareholding by Wedlake has resulted in the public shareholding in Yukon returning to the 25 per cent minimum required under stock exchange regulations. - ECONOMIC TIMES
