Hsin Chong Construction Group will suffer no further cost over-runs from engineering projects this financial year, says its chairman, after last week's revelation of provisions which hit the company's results for the year to March. Geoffrey Yeh Meou-tsen said yesterday the company would reduce the weighting of civil engineering activities within its operations to 18 per cent of sales, from 25 per cent. His assurance followed a company statement last week that earnings for the year to March fell to $46.1 million after estimated losses of $45 million to $50 million on a $481.7 million drainage project at the airport. The over-runs arose from technical difficulties, disruption of work by other parties and excessive time required for processing of alternative designs. At a $1.45 billion loan signing ceremony at Hang Seng Bank headquarters yesterday, Mr Yeh said: 'Our strength remains in building high-rise premises.' The deal, signed by bank vice-chairman Alex Au Siu-kee, sealed a medium-term syndication loan for Hsin Chong and mainland-backed conglomerate China Resources Enterprise for their joint project - a government-subsidised housing development in Tuen Mun. Mr Yeh said the project, in which Hsin Chong held 85 per cent, was expected to be completed by the second half of 1998. Construction started in April. The two parties are building 16 residential blocks, a commercial complex and more than 475 car parking spaces on a site area of 412,000 sq ft. They reached agreement with the Government to pay a premium of $311 million.