HENDERSON Land, which has already invested more than $1 billion on the mainland, has seen some of its projects delayed as some of its mainland partners are having trouble borrowing money. SHKP, which is involved in Beijing's Wanfujing projects and a Guangzhou property project, is also having trouble as a result of the present economic uncertainty. - ECONOMIC JOURNAL CHAN Fat-tsu chairman of Tem Fat Hing Fung, says that following the acquisition of 30 per cent of a subsidiary of China Non-Ferrous Metals, in co-operation with Cheung Kong, his company will operate a precious metals waste recycling project. Mr Chan said this business should make Tem Fat worth $2 billion but he has not set a date to meet this goal. The company has given up its plans independently to enter the Chinese market to start the modernisation of precious metals factories. The company does not have sufficient resources to modernise a large number of these plants. And with Cheung Kong's capital and experience, success should be easier to achieve. Finally, the co-operation will allow Tem Fat more resources to develop the recycling of precious metals waste and other China businesses, including jewellery. - ECONOMIC JOURNAL WORLD International will announce its interim results on Friday. Securities analysts expect a good performance following positive results in property sales. The forecasts of 14 analysts are that in the half-year to March 1993, World's profits should be $1.42 billion, a 40 per cent increase on the same period last year. However, individual broker estimates vary widely, ranging over $150 million, due to differing views on the recovery of Lane Crawford. - MING PAO TSANG Man-leng, managing director of Asean Resources, expects the company's revenue from commercial rents to increase to $180 million this year. A commercial property at Des Voeux Road West, on sale this year, is expected to bring in more than $560 million. This estimate is based on an average price of $5,600 per square foot for new properties in the area. Mr Tsang expects the company's profits to be stable over 1993-94 because the sale of a number of properties will be entered into the accounts this year and revenues for 1994 should be more than $100 million. - MING PAO BILLY Yung Kwok-kee, managing director of Shell Electric, says the fast growth of microwave oven sales means the product will replace fans as the company's largest selling item this year. Sales of microwave ovens should increase by 50 per cent in the second half. Orders in hand will last until March next year. Mr Yung says the slowdown in the US and European markets meant that sales of electrical products will decline, leading to a drop in operating revenues in the first half of the year. Mr Yung expects profits from the taxi business in Guangzhou to be relatively small this year. Shell has invested $20 million in a taxi operation and the return on investment should be little more than 10 per cent. Mr Yung says no new properties will be put on sale in the second half and that property sales will not bring a profit until 1994. - ECONOMIC JOURNAL LAM Chor-wah, managing director of Innovative International, expects the company's operating revenue to grow between 50 and 70 per cent in the next three years. This will be based on growth of the company's current products and the addition of new lines. Mr Lam says car antennas, the company's primary product line, will show 30 to 50 per cent growth in sales this year. New lines such as refrigerators will show 80 to 100 per cent growth this year. Car fans and other lines should maintain a 20 per cent growthrate. Innovative's commercial and residential property in Tianjin is half sold and the remainder should be sold in the second half of this year. - ECONOMIC JOURNAL CHEUNG Chi-kee, chairman of Great Wall Electronics, says the company is in discussions for the acquisition of three mainland enterprises in order to establish a base for new East European and Vietnamese markets. Progress has been made and an announcement will be made in September. The austerity programme in China will benefit Great Wall in talks with China enterprises. - SING PAO SOURCES in the property market say 90 per cent of the 220 units of SHKP's Tsuen Wan residential development were sold by last Saturday. - WAH KIU YAT PO ON the first day of sale last Saturday 22 of 43 units of a Henderson Land industrial complex in Fan Ling were sold for an average of $1,089 a sq ft. - WAH KIU YAT PO LEE Chi-ho, financial director of Mansion Holdings, says that following the acquisition of a fire prevention company on the mainland, Mansion has obtained contracts worth $400 million from its mainland partner. The contracts include fitting fire protectionequipment in new properties in Guangzhou and Shanghai. The Guangzhou contract is worth $200 million. The mainland partner has two more projects in Guangzhou and it is expected that Mansion will be responsible for the fire fighting equipment, to be installed in 1994. Each project is worth $200 million. - SING TAO A RESIDENTIAL property in Sheung Shui developed by Chinachem will accept registration by buyers for 160 units from Thursday to Saturday. The property is situated at Section 56 Sheung Shui and is a 24-storey development. Market sources say the average priceis $3,300 a square foot. Floor areas are from 495 to 615 sq ft. - MING PAO THE reaction to the listing by Shanghai Petrochemical could be far worse that market expectations. The securities industry is now worried about the likely price on the first day of trading and some predict the value will fall below the offer price. - MING PAO Chinese Press Digest is produced by Corporate Information Services. For pre-publication service and other services, telephone 865 5006 or fax 865 5835.