Wo Kee Hong Recommendation: Buy Brokerage: G K Goh The company imports, markets and distributes mainly Japanese audio and visual equipment, air-conditioners, car audio and electronic products, along with other electronic and electrical products.
Earnings for the first six months increased 35.9 per cent to $135.2 million and turnover rose 56.1 per cent.
Rising living standards in China have contributed to the improvement in earnings. The company has expanded its operations in China by opening more offices and after-sales-service centres. Sales of commercial air-conditioning equipment were particularly strong. The company has won most of the contracts for commercial air-conditioners in the Pudong area of Shanghai.
In addition, demand for laser disc players and LD software in Hong Kong has also increased substantially.
The group also acquired 33 per cent of Technorient, the owner of dealerships for Ferrari, Lancia and Fiat cars, Uniroyal tyres, Kobe and Hagen batteries.
The outlook looks good Tai Cheung Recommendation: Hold Brokerage: Vickers Ballas Tai Cheung reported net profits of $464.5 million for the year ending March 1993, ahead 45 per cent on the previous year.