Hing Kong Holdings has unveiled plans to invest about HK$1 billion in information technology and property development this year after returning to a HK$19.6 million profit in the year to December 31.
In 1998 the company lost HK$480 million.
Hing Kong said most of the profit came from the disposal of listed investments including shares in Wah Tak Fung Holdings.
Managing director Albert Chow Nin-mow said the company was left with 80 million Wah Tak Fung shares after selling half its holding.
The company would continue to sell Wah Tak Fung shares if they generated an attractive return, he said.
This year, Hing Kong planned to invest HK$600 million to expand its information technology investment and HK$350 million in construction cost for two Hong Kong property developments.
The company also needed to inject 40 million yuan (about HK$37.42 million) to its mainland property project, Mr Chow said.
