Hong Kong

NATIONAL Electronics Holdings has sold four town houses in its Tai Tam residential development to a private Hong Kong company for $150.38 million. The company said the sale would realise $71.95 million in profit on the sale of the houses which will be made through its wholly owned subsidiary, Viewpoint Investments. The development comprises 11 town houses with a gross floor area of about 43,300 sq ft. Under the agreement, a deposit of $5 million was paid to Viewpoint on January 25 and a further deposit of $25 million is due on February 13. The balance will be paid on completion of the sale on June 28.