THE chairman of Henderson (China Investment), Mr Lee Kar-kit, says the company will join a corporation in Shenzhen for a residential property development with a floor area of about 82,484 sq metres involving an investment of about 160 million yuan (about HK$215.52 million). - HK ECONOMIC TIMES A SOURCE says Chuang's Consortium will recommend that shareholders approve the merging of 10 shares into one when it announces its year-end results this month. This move would value shares at $3 each, placing them as a medium-priced property share. - TIN TIN DAILY NEWS THE share price of Prod-Art Technology rose 23.9 per cent yesterday which has been attributed to the fact that it was one of the three shares recommended by analysts. The trust fund industry has placed the stock as a champion number two. - TIN TIN DAILY NEWS THE share prices of the Chiu family's Far East group of companies all rose yesterday. This is being attributed to the fact that the family lacks interest in Hongkong and intends to leave the territory in favour of Singapore. There is also a suggestion thata mainland company is in discussions with the family regarding a possible purchase of the company to use it as a backdoor listing vehicle. - TIN TIN DAILY NEWS THE share price of China Resources rose 22.5 cents yesterday and there is rumour that the group will inject its industrial business in Hongkong and China into China Resources. There is also speculation that China Resources will possibly issue new shares topay for this. It is thought that China Resources shares could top $4. - TIN TIN DAILY NEWS THE deputy provincial chief of Henan says the Bank of China group, Hongkong Macau International and Hopewell Holdings plan to invest in a power plant in the province. It is expected the total investment in this project will exceed four billion yuan (about HK$5.38 billion). Chia Tai is also said to be preparing to invest on a grand scale in the province. One of its planned investments is in the province's car tyre plant. - WEN WEI PO A SOURCE in the property industry says the redevelopment plan for the Li Po Chun Building in Central, which has been under preparation for four years, has been confirmed and redevelopment should be completed by the end of next year. It is expected that the new development will provide 250,000 sq ft of top class office and commercial space. - SING PAO YIU Wing International director Cheung Wing-keung says his group has increased its investment in China to 30 per cent of its assets. He expects profits from property development will be realised at the beginning of next year and that $50 million has already been returned from the sale of a property called the Rose Garden in Beijing. - MING PAO HARBOUR Ring International executive director Luk Dey said the company is now in discussions with a foreign trust fund regarding a share placement. No details have been confirmed yet but Mr Luk says he hopes by expanding the shareholder base the quality ofthe group's shareholders can be improved. - ORIENTAL DAILY NEWS THE announcement that Governor Chris Patten's trip to Japan has been delayed has led to speculation that talks between Britain and China will resume soon. Furthermore, it is said that mainland groups have received word that good news will be announced in one to two days. This has led to heavy buying of futures and it is rumoured that a major Chinese investor is already holding an excessive number of contracts and is just waiting for the good news to arrive. - TIN TIN DAILY NEWS THE World Trade Centre Group says Sun Hung Kai Properties has completed its examination of the World Trade Centre building in Causeway Bay and both parties officially signed a buy and sell agreement on Tuesday. Through the agreement the World Trade Centre Group received a $390 million deposit and a further $330 million will be paid on March 26. - TA KUNG PAO THE deputy mayor of Behai, Guangxi, says the plan by the Kerry group to develop two deluxe hotels in the city has been approved by the national tourism board. Work has already started on one hotel. - WAH KIU YAT PO AN economist at Citicorp Vickers says that while the Financial Secretary's Budget is quite satisfactory, his estimate for inflation of 9.5 per cent is optimistic and that the inflation rate is likely to be maintained at a double-digit level for the next financial year. Mr Law Cheung-kwok of South China Securities also believes the Financial Secretary's estimate is on the low side. He predicts an inflation rate of 10.5 per cent for the coming year. - SING TAO Chinese Press Digest is produced by Corporate Information Services. For pre-publication and other services, telephone 865 5006 or fax 865 5835.