MONDAY, NOVEMBER 28 THE Bank of East Asia announced on Friday that its new branch at Hong Kong University will be open for business. In the past, Hongkong Bank, Hang Seng Bank and the Bank of China have monopolised banking services at the tertiary institution. - ECONOMIC JOURNAL HONG KONG-BASED CAFE De Coral's first fast food outlet in Shanghai opened on Friday. Including this latest outlet, Cafe De Coral's total number of outlets on the mainland has increased to 12, with the majority concentrated in southern China. The fast food group is planning to add 20 outlets in Shanghai over five years. - SING TAO CHEUNG Kong Holdings has decided to put off the planned launch of a property in Fuzhou, China. It was originally planned that four blocks of 33 to 34-storey residential buildings with shopping malls would be for sale by the end of the year, providing a total of 1,016 units. Meanwhile, K Wah International has announced that the sale of a property in Shanghai will be postponed from the fourth quarter of this year to early next year. - ECONOMIC JOURNAL A MAZE of rumours about China Assets (Holdings) chairman, Zhang Xiaobin, have surfaced in the markets recently. The State and Science Technology Commission is said to have approved Mr Zhang's leave of absence, because of heart problems, from his position in China Venturetech, China Assets' mainland parent. Mr Zhang is also president of China Venturetech. However, news about China Venturetech losing more than US$70 million in its forex trading has also surfaced. The market is also concerned about China Assets' repurchasing its shares frequently of late, normally involving a large number of shares. Market sources pointed out that this has indicated a strong effort by China Assets to shore up its share price. - EXPRESS NEWS CHINA Light & Power's chairman Sidney Gordon said in the company's 1994 annual report, which has just been released, that the utility giant was looking into new investment opportunities in Guangdong together with Exxon Oil of the US. Representatives of the two companies are assessing specific power projects within the province. Meanwhile, China Light confirmed it was considering putting back the the production date for four new power generators in Kowloon. - ECONOMIC JOURNAL GUANGDONG Investment's major shareholder Guangdong Enterprises raised its shareholding in the company on November 23 by 3.222 million shares. The action has lifted Guangdong Enterprise's stake in Guangdong Investment from 48.02 per cent to 48.20 per cent. - ECONOMIC TIMES RONNIE Chan Chi-chung, chairman of Hang Lung Development, said the company had bid in the name of Amoy Properties, for property development rights above Hung Hom Bay of Kowloon-Canton Railway Corp. A Mongkok building purchased by the company early this year will be redeveloped together with the adjacent Grand Tower Hotel. - WAH KIU YAT PO ACCORDING to a spokesman for Hang Lung Development, 56 units in block nine of Tai Hing Gardens in Tuen Mun were to be launched for sale yesterday at between $1.78 million to $2.11 million per unit. It works out to an average of about $2,603 per square foot. - WAH KIU YAT PO HONG Kong Fortune's major shareholder, Ramon, lifted its shareholding in the company by 0.12 per cent to 64.75 per cent. - MING PAO THREE out of 20 units of Broadview Villa, developed by Hopewell Holdings at 20 Broadwood Road, Happy Valley were sold yesterday, representing 15 per cent of the total units offered. - ECONOMIC TIMES CHARMLUXE Development Corp, a company controlled by KTP's major shareholders the Tang Kim-kwan family, Chu Tu-kung and Chu Tu-ming, has slashed its shareholding in the company by 40 million shares from 54.07 per cent to 50.44 per cent. - ECONOMIC JOURNAL LE Saunda Holdings' chairman, Lee Keung, believes sales by the company's leather shoes business will remain healthy until the end of February next year, recording a growth rate similar to the 26 per cent achieved in the first half of the year. However, its jewellery retail business continues to face uncertainty and a break-even situation is not expected to be achieved until August 1995. - MING PAO ONE of the South China Morning Post Holdings' larger minority shareholders, Malayan United Industries Berhad increased its shareholding in the company by 14.8 million shares, from 21.17 per cent to 22.15 per cent. - ECONOMIC JOURNAL SINO Land's chairman, Robert Ng Chee-siong, noted that the massive inflow of mainland state enterprises into Hong Kong and the continued increase in demand from local buyers will support the Hong Kong property market. Meanwhile, Mr Ng takes the view that the Government's policy to clamp down on speculative activities in the property market will help to consolidate the market. - ECONOMIC TIMES
