Electronics manufacturer Wong's Kong King International (Holdings) (WKK) says it must pay between $36 million and $48 million in land premiums to redevelop a site in Kwun Tong. Chairman Senta Wong said at yesterday's annual meeting that the project was a joint venture with Sun Hung Kai Properties, which has a redevelopment project in an adjacent site. WKK's construction contribution is estimated to be $6 million. Upon completion, which is expected in early 1999, the gross floor area will increase from 100,000 square feet to 120,000 square feet. WKK is also entitled to 30 car parking spaces in a new commercial building in Kwun Tong Road. Asked about the company's loss-making electronics business, Mr Wong said production of personal computers for Japanese customers would help pull the company back up to profit after recording a loss of $6.27 million last year. Mr Wong said WKK had started assembling desk top computers for NEC last October. Annual orders have almost doubled to 400,000, he said. He said the US dollar's strength against the yen had been negative for its manufacturing business because 80 per cent of its turnover was from Japanese customers.