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Kenneth Ko

TOMSON Pacific is a property investment and development company which did have tourism and property projects in Macau.

  It has recently embarked on a rationalisation of its investment portfolio and has shifted its focus of activities in property development to Shanghai.

  Tomson was previously headed by Macau casino magnate and Shun Tak chairman Stanley Ho, who resigned from the board of Tomson in April last year.

  The largest shareholders of Tomson are Pacific Electric Wire and Cable Co and Rivera (Holdings) which own 32 per cent and 26 per cent of the company respectively.

  In 1988, Tomson acquired 232 million shares in Regal Hotels International Holdings for $580 million.

  Tomson tried to place these shares through Paliburg International Holdings in 1990, but the deal failed and the placing lapsed in 1991.

  The Regal stake was eventually relinquished a year later through a bonus issue of covered warrants issued to Tomson's shareholders.

  Tomson took an 88-million share stake in Lee Ming Tee's Allied Properties in 1989. Allied obtained a stake in Tomson from Rivera at the same time.

  The cross-holdings ended in 1990 when an Allied Group subsidiary sold its stake in Tomson to third parties, and Tomson sold its shares to the Lo family of Great Eagle Holdings.

  Tomson then started investing heavily in Macau and took a 34.5 per cent stake in Bond Corp International, later renamed World Trade Centre Group.

  Tomson also bought in Macau a 50 per cent stake in a Stanley Ho property company for $210 million.

  In 1991, 20 per cent of shares were placed to Singapore businessman Peter Oei Hong Leong.

  In August 1992, the acting financial secretary appointed an inspector to investigate the affairs of Tomson and World Trade Centre Group in relation to a number of specific transactions carried out by the management of the two companies since 1990.

  Last October, Tomson sold its 34.98 per cent stake in World Trade Centre Group to Rovtec Investment which is owned by China National Cereals, Oils and Foodstuffs Import and Export Corporation.

  On December 14, 1993, the company's premises were visited by officers of the Commercial Crime Bureau.

  In March this year, the company disposed of its interest in a Thai-listed electric wire and cable manufacturer for $116.8 million.

  In June, it sold its 50 per cent stake in Far East Biscuit Factory (Hong Kong), which manufactures biscuits for sale in China and overseas, for $60 million.

  Tomson has currently interests in property developments in Shanghai. It also holds controlling interests in three separate joint ventures in Shanghai, Hangzhou and Shandong for the production of PVC pipes which are for use in property construction and infrastructure works.



Tomson Pacific re-focuses property arm on Shanghai