Nam Fong International Holdings is to buy out the remaining 30 per cent stake in a subsidiary investing in a property joint venture in Guangzhou. Nam Fong will pay $55 million to buy Lau Yue-sam's holding in Trisum Investment, which is a Hong Kong vehicle participating in Jiangnan Nam Fong Garden, a residential and retail development with an expected gross floor area of about 115,842 square metres. Nam Fong said it would finance the deal internally. The consideration represents a 20.6 per cent discount to Trisum's unaudited net tangible assets of about $231 million as of October 31 after taking into account the surplus of $226.4 million on re-valuation of the property. Nam Fong will have to bear additional project costs of about $85.6 million. With the development yet to be finished, Trisum posted losses of $280,000 for 1995 and $140,000 for last year.