GOLDEN Power International chairman Chu King-shing says although the company's electronics parts operations experienced losses over the past financial year, the emphasis on sales volume over profit is helping the company move towards a recovery. During the first half of the current financial year, this sector bounced back into profit. The company has received orders from Japanese toy manufacturers for the OEM products. - ECONOMIC TIMES PROPERTY sources say Henderson (China) and Chinese Estates have a rental agreement under which Henderson (China) will rent floors five and six, a total of 30,000 square feet of floor area, in Harcourt House, Wan Chai. This represents an average of $43 per sq ft a month. - ECONOMIC JOURNAL HONGKONG Land, Mandarin Oriental and Dairy Farm International say their board of directors will consider whether to extend their secondary listing status on the Hong Kong Stock Exchange when they release their interim results. - SING TAO HOPEWELL Holdings is planning to construct a 300-kilometre highway in Hunan province, and the total investment is 13 billion yuan (about HK$11.73 billion). Talks regarding the venture are at a concrete stage and barring any unusual situations an agreement should be reached shortly. Gordon Wu, Hopewell's chairman, is considering development of a link up between the Hunan highway and a 180 km section of the Guangzhou-Shenzhen-Zhuhai highway. - ECONOMIC JOURNAL RUMOURS are rife that Hopewell Holdings is considering a rights issue to raise fresh capital. Market sources say that, at the present share price, a rights issue is unlikely. However, market sources agree that there is a strong need for Hopewell to raise funds to finance its development projects which are in the pipeline. - EXPRESS NEWS BANKING sources say that Hopewell Holdings is raising a US$100 million syndicated bank loan with a maturity of three years. - SING PAO NG Siu-fai, chairman of Jinhui Holdings, says the company's board approves of a plan to spin-off its shipping division for listing on the Oslo Stock Exchange. It is hoped that the spin-off will materialise in the middle of October. Mr Ng says after the completion of the spin-off Jinhui Holdings will strengthen its investment in the industrial sector of the mainland market. - TIN TIN DAILY NEWS JINHUI'S chairman Ng Siu-fai says the group has signed a contract with a steel company in Hunan under which the company will build an equity stake in the steel concern. Jinhui's investment will not exceed US$5 million. It will hold a 50 per cent stake in the steel firm. - ORIENTAL DAILY NEWS THE Environmental Protection Department has signed a contract worth $2.3 billion with a consortium formed by a French waste disposal company, New World Development and Guangdong Investment. The contract is for waste disposal in the north-eastern district of the New Territories. - ECONOMIC JOURNAL SOURCES in the banking industry say RDC, a subsidiary of Wheelock and Co, is planning to raise $700 million in a syndicated loan. RDC will use Wheelock House as collateral for the loan. The five-year loan will be arranged by Citibank NA. Hong Kong banks are being invited to take part in the syndication. - ECONOMIC JOURNAL STARLITE Holdings says it will postpone a plan to issue new shares for the financing of its acquisition of Starlite Printing (Far East) and Starlite Printing (Malaysia) from major shareholder Lam Kwong-yu and his wife. This is because the plan does not have the approval of the Ministry of International Trade and Industry of Malaysia. However, the deal should be completed by November 30. - ECONOMIC TIMES LO Kai-shui, managing director of Sung Foo-kee, says the fall in value of construction contracts is stabilising. He says the profit margin of some of the company's contracts are showing signs of increasing, while competition from other construction companies is easing compared with the situation two or three years earlier. - EXPRESS NEWS A SPOKESMAN for Tai Cheung Holdings says the Government has given the company the green light to sell a commercial property in Aberdeen. The building should be offered in October at a minimum price of $3,000 per square foot. Property sources estimate that if all the units are sold Tai Cheung will realise revenues in excess of $1.7 billion. - EXPRESS NEWS WHEELOCK and Co says it is launching a fund to promote environmental protection with an initial capital of $50 million. The Government has set up an environmental conservation fund appointing Peter Woo, chairman of Wheelock, as the chairman of the funds committee. This is the first time the Government has teamed up with a private company to deal with environmental problems by sponsoring education in environmental protection and community action. - ECONOMIC JOURNAL A MALAYSIAN bank which has an equity stake in Winton Holdings says it lifted its shareholding in the company by 5.2 million shares. The bank's interest in Winton is up from 21 per cent to 22.5 per cent. - ECONOMIC JOURNAL
