Hong Kong companies are scrambling to associate themselves with all things Macau as investors continue to snap up Macanese stock stories with dotcom-style gusto. Macau Success, formerly China Development Corp, is in the thick of the frenzy. The company yesterday said it would buy a further 14.5 per cent stake in a proposed $1.2 billion theme park to be set up by casino magnate Stanley Ho Hung-sun for a mere $1.4 million. The firm, 2 per cent owned by Mr Ho's wife Angela Leung On-kei, already holds 10 per cent. The announcement was timed for maximum impact. Shares in Macau Success were suspended from trading on October 29, pending a change of the trading board lots to 4,000 shares from 20,000. The share price had soared about 75 per cent since August to a close of 93 cents on the day of suspension. Trading was to resume yesterday, but the company issued a trading suspension notice, pending the announcement of the theme park acquisition. The park, named Ponte 16, will be built on an abandoned ferry pier about 20 minutes' walk from Casino Lisboa. The project, due for completion in two years, comprises a 250-room luxury hotel, a casino, a 278,066-square-foot shopping arcade and 684,418 sqft for the park. The casino will be operated by Mr Ho's Sociedade de Jogos de Macau (SJM). Macau Success executive director Marco Lee Siu-cheung expects the company to incur $294 million in investment expenses for the development. With cash of just $10 million, Mr Lee said the balance would be financed by bank loans. Financial controller Simon Luk said the initial capital outlay for the project would be about $21 million for the land premium payable by March next year. After the completion of the deal, SJM's stake in Ponte 16 will be 51 per cent. The remainder is held by a private investor. The deal makes Macau Success the second listed firm to acquire assets from Mr Ho in three days. On Sunday, Shun Tak Holdings paid $1.5 billion for a waterfront site next to Macau Tower from its chairman - Mr Ho - and his family.