SHUN Tak Holdings may soon reach an agreement with the Government on land compensation for its shipyard in Cheung Sha Wan, a Choi Lee spokesman says. - HK ECONOMIC TIMES HEAVY trading in Continental Mariner yesterday saw five million shares change hands. A source revealed that the company could possibly be making a share placement, but added that the share price would have to be readjusted. - HK ECONOMIC TIMES IT has been rumoured that Wharf Holdings will need to raise capital. The latest version of the rumour is that the group will raise funds in the same way as Jardine Strategic. The Lam Soon group of companies is also said to be in need of capital. - HK ECONOMIC TIMES YAU Lee Holdings chairman Wong Ip-kuen said the company was setting up a joint-venture construction company with the Haiping city government to further expand its business in China. Yau Lee would also invest $500 million in major residential projects in Shunde in the company's second major venture there. - HK ECONOMIC JOURNAL HANNY Magnetics executive director Wong Kwok-mei said business growth in the US, Europe and Latin America had been quite satisfactory and the company was now trying to develop its Southeast Asian market. - HK ECONOMIC JOURNAL INNOVATIVE International managing director Richard Lam Chor-wah said his company would initiate four investment plans during 1993-94. All of these would involve investment on the mainland, with a combined expenditure of US$7 million. - HK ECONOMIC JOURNAL DAH Sing Financial Holdings chairman David Wong Shau-yip said his group was studying restructuring plans after its recent purchase of Wing On Bank. Wing On would shift its business direction towards the area covered by Dah Sing - trade financing. No Wing On branches would be sold, he said. - HK ECONOMIC JOURNAL CHEUNG Kong and Hutchison are reported to be interested in a series of deepwater port developments in China. The two groups are said to be prepared to develop six separate ports with a combined investment reaching $18 billion. The ports in question are Dalian, Zhangzhou, Shanghai, Putian, Shenzhen and Zhuhai harbour. - ORIENTAL DAILY NEWS THE deputy secretary-general of Wuhan says Hutchison Whampoa has already held meetings with various official departments concerning various infrastructure projects in the Hubei capital. These would include a ring-road highway and the construction of two bridges. - EXPRESS NEWS CONIC Investment yesterday applied for a suspension in trading and announced that a third party was interested in acquiring a stake in the company, and that a full takeover may be offered to minority shareholders. The company made it clear that the board of directors had yet to receive any concrete takeover proposal. - EXPRESS NEWS A SOURCE in the property market says Cheung Kong and Pacific Concord recently reached an agreement with the Government on the swap of the Tsing Yi oil depot for a site at Ma On Shan. A sum of $410 million is reported to the land premium for the Ma On Shan site. - WAH KIU YAT PO IT has been rumoured in the market that a few companies intend to place shares as a means of raising capital. Following Champion Technology's placement, it is also rumoured in the market that third parties are also talking of buying stakes in Chevalier International, Double Kingdom and Juko Laboratories. - ORIENTAL DAILY NEWS AFTER the cancellation of a deal in which China Strategic planned to buy into IHD Holdings, Shougang is now reported to be interested in IHD. - TIN TIN DAILY NEWS THE two redevelopment projects in which the Land Development Corporation is involved with Cheung Kong and Sun Hung Kai Properties separately will be under way at the end of June. The redevelopments are located next to Queen's Road Central, at Jubilee Street and Wing Lok Street. - EXPRESS NEWS OF the units up for sale in Kwai Wu Industrial Building in Kwai Chung, 70 per cent were sold yesterday by Cheung Kong, which will today launch the sale of the even numbered units in the building. The average price achieved was $987 per square foot. - HK ECONOMIC TIMES HONGKONG Ferry chief executive Peter Wong Man-kong says earlier agreed investments in two hotel projects in Gansu province would not be undertaken by Hongkong Ferry, but were family investments made through Wong's Investment. Total investment in the two three-star hotels is expected to be around 150 million yuan (about HK$203.4 million at official rates). - WAH KIU YAT PO AT & T has finally decided to lease about 60,000 square feet of floor space in Wharf Holdings' Times Square, in line with its intention to expand and reduce rental costs. Monthly rental per square foot will be $28. - HK ECONOMIC TIMES Chinese Press Digest is produced by Corporate Information Services. For pre-publication service and other services, telephone 865 5006 or fax 865 5835.