THE Government has received proposals from six consortiums for the section of the Route Three Kwai Chung project to pass near the wildlife park. Construction costs are estimated at $11 billion. The consortiums include Sun Hung Kai Properties, CITIC Pacific and Kumagai Gumi. Others expressing earlier interest but have yet to submit proposals include New World Development, Henderson Land, Hang Lung, Lippo Group and Cheung Kong. - MING PAO TRADING in Tung Wing shares was suspended on Friday on rumours of a large rights issue, initially rumoured to be $2 billion to $3 billion. However, sources say Tung Wing management is under pressure from major shareholders to reduce its size. - TIN TIN DAILY NEWS MR Sonny Yeung, chairman of the Emperor Group, says the company has obtained a licence to trade commodities futures in Shenzhen and Xiamen, allowing it to trade in non-ferrous metals and other raw materials. The company will establish information offices in Beijing, Dalian, Wuhan and the Pearl River delta to pave the way for China's opening of the foreign exchange market. - HK ECONOMIC TIMES THERE have been a number of Hongkong-listed companies raising capital through the issue of convertible notes. Mr Hui Tat-yang, managing director of Vickers Ballas, believes this will become a fund-raising trend and that more second and third-liners will follow suit. - HK ECONOMIC TIMES MR Chan Yue-kwong, managing director of Cafe De Coral, says the firm will be opening two more fast food outlets in China this year. Its existing two restaurants on the mainland are under renovation and will be open in two months. - HK ECONOMIC TIMES KUMAGAI Gumi (HK) is to invest $3 billion in the Yangpu district of Hainan this year, with $2 billion for a power plant and $1 billion for ground levelling for a large property development to be undertaken next year. - HK ECONOMIC TIMES MR Gerry Higginson, chairman of the Cross-Harbour Tunnel Co, says that despite a lack of consensus by China and Britain on the airport project, he believes the western cross-harbour tunnel will go ahead as planned. He hopes the franchise for the tunnel will be granted in the second half of this year. Mr Higginson notes that the western harbour tunnel is a project straddling 1997 so the Government must discuss the matter with Beijing. Up to now only one consortium has submitted a plan for the operation of the tunnel. The Cross-Harbour Tunnel Co has a 37per cent stake in the consortium with the remainder being held by companies led by CITIC, with a 50 per cent stake, and China Merchants, with 13 per cent. - HK ECONOMIC TIMES THE deadline for two government housing projects, in Junk Bay and Sha Tin, has closed, with Fung Cheung Kee putting in the favoured bid of $357 million for the Junk Bay project, while Shung Shing Holdings is thought to be the favourite for the Sha Tin project, with a bid of $220 million, sources say. - SING TAO MR So Auk, deputy general manager of New World (China), says the company's stake in the second phase of a power plant in the Pearl River delta is being negotiated. It is believed that a final decision will not be made until the second half of the year. NewWorld's stake is anticipated to be lowered from an original 50 per cent to 25 per cent. The stake has been reduced from 50 per cent in the first phase due to participation of other shareholders. The new shareholders are Guangzhou Investments and Pearl Harbour International Holdings. - SING TAO A FUTURES exchange is planned for Hainan, sources say, adding that Pacific Concord's US parent company will set up a joint-venture company to invest 300 million yuan (about HK$406.8 million). - SING PAO C. ITOH, the Japanese trading firm, plans to buy a three per cent stake in China Strategic Holdings for $60 million. C. Itoh says it hopes the co-operation with China Strategic will lead to new business opportunities on the mainland. China Strategic has nearly 200 factories on the mainland. - EXPRESS NEWS WHARF Cable has linked up with another Hongkong company to invest in a cable television project in Chengdu, Sichuan province. The project, due for completion this year, involves an investment of $44 million. - EXPRESS NEWS CONSTRUCTION work for Tian An China's property developments in Changzhou will begin in the second half of this year, with total investment expected to be near 900 million yuan (about HK$1.22 billion). One of the projects is the construction of a Tian An Building with an investment of 360 million yuan. Work will begin in November. Other developments include a redevelopment plan for a street in the city centre costing 200 million yuan and a department store at 100 million yuan. - WEN WEI PO Chinese Press Digest is produced by Corporate Information Services. For pre-publication service and other services, telephone 865 5006 or fax 865 5835.