Tak Wing Investment (Holdings) executive director Cheung Siu-lun says the company's construction arm, Wan Hin & Co, has been mismanaged, from the quality of the flats it built to its profitability. Mr Cheung, who has been appointed Wan Hin's new managing director, said yesterday mismanagement was the cause of problems at the company's Tivoli Garden on Tsing Yi Island, a Home Ownership Scheme project which was reported to have received about 1,900 complaints. 'They are just flaws of new buildings,' he said. 'There are 1,912 reparations, not complaints.' After a reshuffle at Tak Wing's construction operations in which Yrong Zhing Contruction was merged with Wan Hin, Mr Cheung said Wan Hin would see improvement from last year's $61 million net loss. 'We are focusing on high-value jobs, at least $200 million each,' he said, citing as an example a tender of about $1 billion for a Private Sector Participation Scheme in Tuen Mun which was submitted two weeks ago. The result of bidding will be announced in three months. Wan Hin has formed a 50-50 partnership with a subsidiary of mainland-backed Citic International Contracting Inc to bid for the project. Tak Wing director Laurence Cheng Kam-cheong said the the decision to co-operate with Citic was linked to next year's handover.