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SCMP Reporter

A DIRECTOR of Tomson Pacific - one of the seven companies raided by the Commercial Crime Bureau last week - has agreed to buy a property in Beijing and turn it into a residential and commercial building.

   Hsu Feng is to pay 21.4 million yuan (about HK$23 million at the official rate) to Eastern District Real Estate Development Co for the property on a 2,335 sq m site and redevelop it by July 1995.

      Under a related agreement Ms Hsu will lease the property to Minato Ltd, a Tomson Pacific subsidiary, for 12 years for the same fee she is paying the Chinese party.



Tomson deal on Beijing site