JEWELLER Tem Fat Hing Fung (Holdings) has become the latest listed company to get a mainland shareholder. The company last night announced that a wholly owned subsidiary of a mainland corporation was taking 70 million shares - a seven per cent stake. The company's share price has been bid up steadily since the beginning of this year on rumours that such a deal was about to take place, rising from about $1.10 to yesterday's close of $1.52. The stake is being taken by Oriental Metals (Holdings), a wholly owned subsidiary of China National Non-ferrous Metals Industry Corp (CNNC), at $1.47 a share. It appears that CNNC's shares are being issued rather than bought from the controlling family, the Chans. Tem Fat Hing Fung's principal business has long been gold trading, and it recently set up a joint venture with CNNC, reclaiming gold from scrap electronic equipment in China. The company paid $10 million for its stake in the venture, which takes scrap from as far afield as Papua New Guinea. The company's previous major business move was a stake in an $800 million office, hotel and shopping complex in Johore Bahru, Malaysia.