MR Deng Liugen, chairman of China Investments, says its land reserves in Nanhai and Weizhou should be sufficient for the company's development for next five years. He predicts that total investment in property projects in these cities will exceed HK$1 billion. He adds that his company is aggressively trying to gain the right to sign a letter of agreement this month to develop a power plant in Zhaoqing, Guangdong. - HK ECONOMIC JOURNAL FUJIAN Enterprises is planning to team up with Indonesian businessman Liem Siew Liong and mainland Chinese oil exploration enterprises to probe four oil fields in Indonesia. Investment will not be less than a few hundred million US dollars. It is hoped that agreement on the plan will be reached in the first half of the year. Mr Wang Chengming, executive director and general manager of Fijian Enterprises, says his company will selectively buy up shares for long-term investment in companies that have investments in Fujian. He points to the possibility that Fujian Enterprises might buy a stake in the Allied group. Mr Wang also says two subsidiaries, a toy company and Fujian Travel, are planning to list in Hongkong. - SING TAO MR Peter Woo, chairman of Wharf Holdings, says the $6 billion investment in the prime site at Diamond Hill will not put the group under financial pressure, as Wharf's debt ratio is only eight per cent, and World International and Hongkong Realty have no debt at all. He says his group has received a lot of support from banks for financing the project. It is estimated that Wharf's debt ratio will rise to 10 per cent and World International's to five per cent. Elsewhere, a source in the banking industry says the group is trying to raise $400 million for the development of a godown in Sha Tin on a site acquired last year. - ORIENTAL DAILY NEWS MR Ma Zhimin, chairman and general manager of China Travel Service, says his group will be involved in seven or eight development projects in China in the fields of tourism and industry. One is a co-operation with the Tianjin city government to jointly operate the Tang Shan steel plant. - ORIENTAL DAILY NEWS MR Louis Cheng-meng, deputy chairman of Picco Far East, says the company recently won five interior decoration contracts for museums in Taiwan worth a total of HK$25 million. The company is currently talking to a couple of three-star hotels in northeast China in the hope of securing contracts for interior decoration projects with a value exceeding HK$10 million. Mr Cheng adds that there are signs that there is a saturation of sites for exhibitions and expositions in Hongkong. However, as China continues to expand and develop, more and more international exhibitions are being held there. - SING PAO HUNG Hing Printing is forming a joint-venture printing plant on the mainland with a view to exploiting China's higher consumer spending power, which requires a higher quality in its printed products. Mr Matthew Yum Chak-ming, managing director of Hung Hing, says the firm will hold a 35 per cent stake in the plant, in which total investment will reach US$10 million. The joint venture will have the right to sell 30 per cent of its products in China. - SING PAO MR Frederick Ma Si-hang, executive director of Kumagai Gumi (HK), says his company will begin selling the second phase of land in Yangpu harbour next week. He says the total area involved exceeds six million square feet. The price for commercial and residential use will be set at $50 per square foot. This represents a one per cent reduction on the price set for the first phase, sold at the end of 1992. - MING PAO MR Fung Hung-wah, a director of Hip Shing Hong, says his company has recently joined with New World Development to develop a major residential property in Dongguan. He says Hip Shing Hong hold only a minority stake in the project. There are plans to put this property up in Hongkong for pre-sale. - SING PAO THE Tsang family of Huey Tai International has completed the acquisition of shares in Richfield Holdings from Paliburg International and Regal International. The Tsang family's own business in China has also been injected into Richfield. Richfield will later change its name to Wei Yang Holdings. In future, the company's main business activities will be in property, operation of terminals and trading in China. - HK ECONOMIC TIMES MR David Poon Chan, chairman of Tai Cheung Holdings, says that increasingly rampant trade between Hongkong and China and the onset of infrastructure projects will increase demand for office space. Therefore, his group will concentrate on developing commercial property. He adds that property developed by Tai Cheung will be sold. Mr Chen predicts that office prices will see a 15 per cent to 20 per cent rise in 1993 and an even higher rise in 1994-95. - HK ECONOMIC TIMES Chinese Press Digest is produced by Corporate Information Services. For pre-publication and other services, telephone 865 5006 or fax 865 5835.