Mainboard listing candidate Heng Tai Consumables Group expects to make provisions for possible tax liabilities to the Macau Government in the present and coming financial years. At June 30 this year, the company, which is engaged in mainland distribution of packaged food and consumer products, had made accumulated provisions of HK$23.9 million for tax payable since 1999. Yesterday, Heng Tai said it would raise net proceeds of about HK$29 million through the sale of 125 million new shares at 40 HK cents each on listing. Some of Heng Tai's sales in Macau are handled by an independent agent appointed by its wholly owned subsidiary, Heng Yui & Associates. These sales are not taxed as the operations do not involve the delivery or distribution of goods, cash receipts or disbursements in Macau. However, chairman Lam Kwok-hing said the company would consider setting aside provisions in case this arrangement changed. The group has set aside the equivalent of the 15.75 per cent Macau tax on profits. The company also is setting up a wholly owned offshore commercial-service institution, which also would qualify for preferential tax treatment in Macau. The company's net profit rose 11.64 per cent to HK$31.45 million in the year to June 30. Applications for the public offer shares will open from today and will last until noon on Friday. Trading in the shares will begin on December 3.