HONGKONG electronic maker S. Megga Telecommunications signed an agreement to become the first third-party beneficiary of the accord between AT&T and China's State Planning Commission. Financial Secretary Mr Hamish Macleod announced on Monday that the Government would not commit itself to total funding of the new airport and associated projects, despite continued disagreement with China over financing. Cash calls worth $377 million were launched over the holiday weekend. The US dollar plunged to an all-time low of 113.30 yen on Monday before closing at 113.83 yen. The Executive Council announced on Tuesday that social welfare would receive an extra $52 million from the Mark Six lottery this year. The Securities and Futures Commission called for tougher internal controls at brokerages to tackle the growing problems of money laundering and fraud. Monetary Authority chief executive Mr Joseph Yam Chi-kwong announced that banks were to slap a 10 per cent margin requirement on loans to would-be investors in new share issues. Company results PEREGRINE Investments Holdings reported a 101 per cent rise in net profit to $607.8 million for the year. Consumer goods distributor Wo Kee Hong (Holdings) reported a 40.3 per cent rise in profit before extraordinary items to $203.45 million for the year. Hongkong announcements FIGURES for volume and price movements of external trade in January will be released on April 13. Hongkong's external trade statistics for February will be released on April 15. Employment, vacancies and payroll statistics for December will be released on April 16. World events THE financial markets will look to the UK economy this week for signs of a recovery, economists say. UK data this week will cover March retail prices and February manufacturing output and industrial production. None should upset the picture of an economy finally pulling clear of recession. In Japan, a long-awaited financial stimulation package, estimated at 12 trillion yen (about HK$816 billion), will be announced on Tuesday. The package is expected to include major expenditures for public works projects, but will not contain any income tax breaks. Also due are March manufacturing orders, which are forecast to fall heavily. Group of Seven foreign and finance ministers meet midweek in Tokyo for talks to find ways to support Russian free-market reforms. The European Community monetary committee meets on Tuesday to discuss the final draft of the review of the Exchange Rate Mechanism. The report will include potential measures to avert a repeat of last year's turbulence that threatened the grid. Quote of the Week The industrial relations at this bank [are] at its worst condition leading to an imminent disastrous showdown. - Hongkong Bank Union, representing the Hongkong Bank in Manila.