MR Lai Kim-leong, a director and general manager of Public International, says the takeover of his company by Cheung Kong (Holdings) and a Chinese enterprise is now awaiting the approval of the Sydney stock exchange. - HK ECONOMIC JOURNAL A SOURCE in the securities industry says HSBC Holdings plans to split Hongkong Bank for a separate listing. The move is expected in the middle of the year. Mr Paul Selway-Swift, chief executive of Hongkong Bank, refused to comment on the rumour, saying only that the group hoped to make the bank and the holding company two separate institutions. - ORIENTAL DAILY NEWS MR Li Ka-shing, Mr Joseph Lau of Evergo International and Mr Charles Lee, chairman of the stock exchange, were invited to the foundation ceremony of the new Shanghai stock exchange building. It is said Mr Li was invited to attend and meet Mr Deng Xiaoping.- TIN TIN DAILY NEWS BUSINESS at Henderson Land's two hotels in North Point and Mongkok is said to have been quite sound, leading to interest being shown by a third party, which is understood to be planning to buy the two hotels for nearly $1 billion. - TIN TIN DAILY NEWS FOLLOWING the injection of Hongkong Telecom shares, CITIC Pacific is said to be planning a listing on the London stock exchange. Now that CITIC Pacific has become one of Hongkong's top 15 blue chips with a vision to expand further, it is felt there is a need to gain recognition from international trust funds. - TIN TIN DAILY NEWS MR Lung Ka-kui, executive director of Yau Luen Construction Materials, says his company has appointed Standard Chartered Asia to arrange a listing. Mr Leung says the company had earlier formed a joint venture tile manufacturer in Wenzhou. It also plans to invest in another similar manufacturing venture in either Wenzhou or Fuzhou. - SING TAO MR Chan Fat-leung, managing director of Temfat Hing Fung, says his company is planning to increase its mainland property investment. The company has made its initial move in this direction by co-operating with a Shanghai non-ferrous metals corporation to construct a residential development. Mr Chan says the company is negotiating other property projects in Xiamen, Shanghai and Shenzhen. The company is planning to sell a 50 per cent stake in a Malaysian development project. Mr Chan says negotiations for thisare at an advanced stage. - SING TAO RUMOURS re-surfaced yesterday that Dairy Farm International is to increase its stake in the UK supermarket chain Kwiksave. Analysts believe that the recent devaluation of the pound makes such a purchase more attractive. - MING PAO A SOURCE in the investment industry says Hongkong Telecom shares are being traded 100 per cent more overseas than in Hongkong. Overseas trading in Hongkong Bank shares has also increased. Last year's ratio of buying was 70-30 Hongkong to overseas, but thisyear the trading volume overseas matches local volume. - MING PAO THE Chinese authorities and Hongkong International Terminals have finalised plans to develop a container terminal at Sanshan Island in Hainan. The first phase of the work has started. Investment in the project is around $100 million. A source in the Hainangovernment said Mr Li Ka-shing decided to invest in the project some time ago. Seven 5,000-tonne-capacity berths are due to be built by 1995. - WAH KIU YAT PO HARBIN Furnace Co, the largest power plant furnace manufacturer in China, has contacted a Cheung Kong subsidiary to inquire about the possibility of funding for Harbin Finance. A senior executive of the Harbin company says negotiations are still in the early stages. - WAH KIU YAT PO MR Steven Ng, executive director of Wharf Holdings, says Wharf Cable has spent $200 million in preparation for its bid for the second telecommunications network. The company will spend $5 billion on the pay television network. If it obtains the licence, Wharf will study how to merge the two networks. The company is still reviewing the investment required for the two projects. A source says Sichuan and Shenzhen also intend to develop cable television networks, and that Wharf has expressed an interest in these projects. Mr Ng stresses that the local pay television project takes top priority. - HK ECONOMIC TIMES PACIFIC Communications, headed by the First Pacific group, will introduce a second generation cordless telephone service by the end of February or early March. The service will be called Telelink, and will require an investment of $300 million to $400 million. The First Pacific group has a 60 per cent stake in Pacific Communications. ABC Paging and Sun Hung Kai Properties each hold five per cent of the equity. - HK ECONOMIC JOURNAL PASSENGERS requiring cash in the airport departure lounge will now be unable to find a Hongkong Bank terminal there. It is reported that the Bank of China has now become the only bank to have any facilities in the lounge. BOC offered to pay three times as much rent for the same space. It is said to have offered $200,000 a month. - HK ECONOMIC JOURNAL Chinese Press Digest is produced by Corporate Information Services. 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