THURSDAY, JANUARY 19 RUMOURS were rife in the market yesterday that the talks between the Bank of East Asia and the United Chinese Bank had seen a breakthrough. It is said the Bank of East Asia has already acquired the bank for $1.3 billion and that an announcement would be made soon.
- ECONOMIC JOURNAL SECURITIES analysts are concerned about the effect on the devastating earthquake in Japan on Cathay Pacific's Japanese routes. They say that the earthquake occurred at a time near the Lunar New Year holidays which traditionally marks the peak travel season for Hong Kong residents.
- ECONOMIC JOURNAL LIU Ngai-wing, the new chief executive of Chesterfield, bought one million shares in Chesterfield on January 16 at $0.068 per share. Mr Liu's stake in Chesterfield has increased to 1.002 million shares.
- ECONOMIC JOURNAL SOURCES report that an international consortium formed by AMEC International Construction of the United States, Balfour Beatty of Britain, China State Construction Engineering Corporation of China (a subsidiary of Hong Kong listed China Overseas Land and Investment), Kumagai Gumi (HK) and Meeda Corporation of Japan has won the construction contract for the Chek Lap Kok new airport main terminal. This consortium made a tender of $1.01 billion which was the lowest bid. Each member holds a 20 per cent interest the consortium.
- MING PAO GREAT Eagle Holdings has notified the Stock Exchange that its managing director Lo Ka-shui and other members of his family have increased their holdings by a total of 2.086 million shares on January 11. Their stake in Great Eagle has increased from 48.35 per cent to 48.44 per cent.
- ECONOMIC TIMES GUANGZHOU Shipyard International has announced that it has established a company which will be engaged in the refurbishment business in alliance with four other companies. The total investment for the joint venture in $10 million and Guangzhouu Shipyard has taken a 35 per cent interest in the venture. The new company will utilise foreign capital, technology, materials, and management methods.
- ECONOMIC JOURNAL HENDERSON Land has notified the Stock Exchange that its chairman Lee Shau-kee increased his stake in the group by 143,000 shares on January 6. Mr Lee now holds 69.16 per cent of Henderson Land's issued share capital.