THERE are rumours in the market that Hopewell Holdings intends to spin off power stations for a Hongkong listing. The reaction among sources in the securities industry is mixed. Some believe the move could help reduce Hopewell's debt burden and help its diversification. The power stations to be spun off reportedly include three in the Philippines and five others to be completed soon. Peregrine has been appointed sponsor of the listing. Peregrine managing director Francis Leung refused to comment. - WAH KIUYAT PO THE rumour that Hutchison Whampoa will sell Hongkong Electric to CITIC Pacific resurfaced yesterday. Such a move would help Hutchison's plans to expand in China. - SING PAO THE chairman of Great Wall Electronics, Mr Cheung Chi-kay, says the company is at the early stage of planning a listing in the United States. Mr Cheung also says Great Wall Electronics plans the joint development of a commercial and exhibition centre near the Huizhou railway station. - SING PAO SHELL Electric's net earnings for 1992 were back to the 1984 level of $80 million. Microwave ovens made by the company are in great demand on the mainland, with sales expected to reach a million a year. One UK brokerage has recommended Shell recently, firstly because of its microwave business and secondly because of its property investment. Shell has three properties in Guangzhou with a total floor area of 600,000 square feet. One, in which Shell Electric has a 30 per cent stake, will be sold at an average of $730 per sq ft. - TIN TIN DAILY NEWS A HOI Sing group shareholders meeting yesterday approved the takeover of Heng Cheung, a company specialising in the import and export of construction materials. Hoi Sing chairman Charm Hoi-sum says Heng Cheung will expand on the mainland with the help of Hoi Sing. Mr Charm says the Hongkong construction business has been depressed over the past year. Competition has intensified, but Hoi Sing still has $700 million worth of contracts in hand. - TA KUNG PAO MR Nigel Rich, managing director of Jardine Matheson, says Jardine Matheson plans to increase its holding in Singapore's Cycle and Carriage from 16 per cent to 24.9 per cent. According to sources in the securities industry, Jardine Strategic's share placement has given the Jardine group the capital to involve itself in other takeover activities. Mr Rich says Jardine has no interest in making a full takeover bid for Cycle and Carriage. - HK ECONOMIC JOURNAL CITICORP International says the $720 million construction loan sought by Nan Fung Development has been formally signed. The 18-month loan will be used to finance the development of four blocks of residential properties in Junk Bay. Citicorp International, responsible for arranging the loan, has committed itself to providing $300 million. - HK ECONOMIC JOURNAL THE chairman of Tem Fat Hing Fung, Mr Chen Fat-chiu, says that because of the company's limited scope, it plans to co-operate with larger enterprises on future investments. Although China Non-ferrous Metals has again increased its shareholding in Tem Fat, Mr Chen says he does not rule out future co-operation with other mainland corporations. - WAH KIU YAT PO THE deputy secretary-general of Suzhou, Mr Jiang Yuting, says Ryoden Development plans to develop property in a new zone in the city. He says Ryoden is entering a US$10 million-plus joint venture to develop a hotel with the Suzhou Travel Bureau. The hotel opened last year. - MING PAO CHEUNG Kong has bought a row of dilapidated buildings in Tai Hang for $98 million. It is understood that the company plans to redevelop the site into large apartments of more than 1,000 square feet each. The site is about 8,600 square feet. - HK ECONOMIC JOURNAL ACCORDING to the stock exchange, Cheung Kong chairman Li Ka-shing has reduced his holding in the company by 400,000 shares at a price of $19.30 per share. Sources in the securities industry say this is partly to pay off Cheung Kong's covered warrants with shares rather than cash. - EXPRESS NEWS A FORMER legislative councillor, Ms So Chow Yim-peng, plans to list her printing company, Sun Chow. The company will give a presentation to analysts tomorrow. - SING PAO ACCORDING to sources in the banking industry, World International has appointed Hang Seng Bank to lead a four-year syndicated loan worth $2.5 billion. The interest charges and the cost of underwriting the loan will become the benchmark for the market. Overseas banks including Sanwa, Bank of China and a German bank will be invited to join the syndicate. - SING PAO Chinese Press Digest is produced by Corporate Information Services. For pre-publication service and other services, telephone 865 5006 or fax 865 5835.