HOUSEHOLD and consumer goods manufacturer, Holian Investments, is planning an $87 million rights issue to boost its expansion into China. Shareholders will be offered about 481 million shares at a price of 18 cents, with two warrants for every five rights shares. Applications must be received by April 22. This is a discount of about 48.6 per cent on the closing price of 35 cents on March 31, the last day of trading prior to the issue. The company anticipates the issue will cost about $3 million. An additional $39 million will be retained by the company as working capital. No provisional allotments will be made to shareholders outside Singapore, Hong Kong and Malaysia. Goodwill Capital has been appointed manager of the issue. A spokesman for Holian said: ''The additional finance will enable the group to expand its existing operations and to take up new opportunities for investment.'' He said the directors considered China to be a huge market, with high demand for household and consumer electronics products. He said the company was operating in a leased property in Dongguan at present. ''In order to cope with the demand in China, the company is planning to purchase a new property . . . the existing operation will be relocated and additional equipment will be installed,'' he said. Holian is also considering a $30 million joint venture in Nanhai, manufacturing ceramic tiles and engaging in property investment.