HANNY Magnetics says it has been successful in winning three United States national retail customers for its Dysan production line. It is expected that these customers will bring US$10 million to $15 million in sales revenue to Hanny, accounting for 10 per cent of the company's total sales. Hanny says the three customers are K-Mart, Sears and Target. The company says products were delivered to those customers in January, and others have since been received. Hanny says the US market now accounts for 60 per cent of the company's operating revenue, while European markets account for 35 per cent and Asian markets five per cent. - ECONOMIC JOURNAL MANDARIN Oriental International informed the stock exchange that Jardine Matheson increased its stake in Mandarin Oriental by 7.626 million shares on May 16, lifting its holdings from 51.67 to 52.79 per cent. - ECONOMIC TIMES SINGAMAS Container responded to a request by the stock exchange for a suspension of trading in its shares. A company spokesman clarified that it has not reached an agreement regarding a share placement with any investment banks, contrary to some press reports that Singamas is ready to carry out such plans. With regard to the company making a number of investments on the mainland, the spokesman says no decision has been made on whether it will raise money through bank borrowing or raise capital in the markets to finance the projects. - ECONOMIC JOURNAL JASON Yip, chairman of Mansion Holdings, says that since the company ventured into the China market early last year, mainland business has accounted for an increasingly large proportion of the company's total sales. Mr Yip says mainland sales now account for half of Mansion's operating revenue, with the rest still being generated in Hong Kong. - ECONOMIC JOURNAL CHINA Travel (Holdings) will sign a syndicated bank loan for $700 million to $800 million. A director of the company says its subsidiary, China Travel International Investment, has sufficient capital in hand and it is not necessary to raise further capital. The director says China Travel (Holdings) will continue to consider injecting assets into listed companies under its control. One of these assets may be Shenzhen Airlines. He says China Travel (Holdings) will sign the syndicated bank loan, led by Credit Lyonnais, next month. - ECONOMIC JOURNAL CHINA Travel International Investment says it has bought a plot of land with an area of more than 80 hectares in the US for the development of a miniature park. The estimated investment is in the region of US$15 million. - ECONOMIC TIMES FOUR Japanese banks and two French banks signed a contract in Shanghai under which a US$40 million syndicated credit line will be provided for the construction of Novel Plaza in Shanghai. Novel Plaza will be a combined property development, jointly developed by Novel Enterprises of Hong Kong and a Shanghai enterprise.
Investment for the project is $60 million. Novel will take a 75 per cent stake while the mainland party will take the remainder. Novel Plaza will be a 22-storey project comprising a shopping mall, restaurants, clubs and an office tower. The total floor area will be 25,000 square metres and construction is expected to be completed by mid-1996. The developers plan to retain the property for long-term investment purposes. - ECONOMIC JOURNAL PART of Swire Properties' plan to redevelop a Sai Wan Ho residential property has been approved by the Government. A spokesman for Swire Properties says the plan involves the development of two residential properties which, when completed in 1996, will provide 30 units. The Government has approved the construction of a 23-storey residential property, which is part of the redevelopment programme. Approval for the other property has yet to be obtained. - ECONOMIC JOURNAL EIGHTY-THREE units of an industrial property at 1, Hung To Road, Kwun Tong, went on sale yesterday. According to developers Sino Land, Chinese Estates and Chinachem, 41 units were sold on the first day. The developers say they will not consider offering additional units for sale. The industrial property is a 33-storey complex with a total floor area of 765,703 square feet. It is understood that an internal sale has been carried out, during which 50 per cent of the space was sold. - ECONOMIC JOURNAL PROPERTY sources say Hong Kong China will sell the remaining 110 residential units of Blocks one and two, Tregunter Park in Mid-Levels. The average price is $8,000 per sq ft and if the units are fully sold Hong Kong China will generate $2.6 billion in revenue. - ECONOMIC TIMES THE share price of Consolidated Electric Power Asia (CEPA) surged in yesterday's trading on heavy turnover. Brokers say the offer of shares in Dongfang has provided a boost to energy-concept stocks. CEPA and Wing Shan both benefitted from the demand for the shares. - MING PAO IT is reported that Cathay Pacific's pay talks between pilots and management are on the verge of collapse. Although a strike has not yet occurred, Cathay's share price continues to come under pressure. - MING PAO IT has been disclosed that Lippo is intent on investing in a highway and a cement plant in Shandong. Lippo says it is interested in being involved in the development of a 35-kilometre highway project and an equity investment in a cement plant with an annual capacity of 300,000 tonnes. The cement plant is attempting to bring in foreign investment in order to reform its existing production lines as well as expand annual production capacity to 900,000 tonnes. - WEN WEI PO TEMPLETON Investment Fund of the US is reported to have increased its stake in Yaohan (Hong Kong), lifting its holdings to 16 per cent. Some market sources say that Templeton's stake in Yaohan (Hong Kong) may even exceed that of Kazuo Wada, its chairman. - TIN TIN DAILY NEWS ACCORDING to reports in some mainland newspapers, Cheung Kong's acquisition of a highway in Sichuan Province has been finalised. The Hong Kong group will develop property projects along the highway. It is speculated that the acquisition has cost Cheung Kong four billion yuan (about HK$3.56 billion), but Li Ka-shing, its chairman, has declined to comment on the figure. - ORIENTAL DAILY NEWS ON May 16 Dickson Concepts bought back 500,000 shares at $4.82 to $4.85. Wheelock and Co bought back 678,000 shares at between $18.60 and $18.80. Great Wall Electronics bought back 150,000 shares at between $0.94 and $0.96. Cheung Wah Development bought back 250,000 at $0.51. National Electronics bought back 340,000 shares at $0.78 to $0.79. Fong's Industries bought back 200,000 shares at $1.10 to $1.12. - ECONOMIC TIMES
