M$30 million and an issued capital of about M$19 million. With merger, the two companies will cease their in- dependent operations in producing and marketing cement but will preserve their separate identities as holding com- panies.
In a joint statement the two boards of directors said they believed the merger would bring about "substantial benefits."
"While the merger cannot be expected of itself to bring any amelioration or relief of the chronic current pro- blem of over-production in the industry, there are sub- stantial benefits to be derived from joint operation,” it said. Distribution costs would be cut and the "competitive posi- tion" improved.
ELECTRICAL CONTRACTORS' CHAIRMAN
MR. J. J. PLSTONJI, one of the founder members of the Electrical Contractors' Association of Hong Kong, has been elected chairman of the Association for the year 1967/68. He has been secretary of the association for the past three years.
A local resident, educated in Hong Kong, Mr. Pestonji is at present with the Electrical and Contracting Depart- men of U. Spalinger and Co. Ltd., one of the John Manners Group of Companies. He has been employed by the firm as a departmental head for over seven years.
SALES COMPANY IN HONG KONG
CATERPILLAR Tractor Co. of the United States is planning to establish a new company in Hong Kong which will depend largely on its Japanese joint venture - Caterpillar Mitsubishi for its sales operation.
Officials of the Japanese joint venture involving Cater- pillar Tractor and Mitsubishi Heavy Industries said that the new company in Hong Kong would not come under Caterpillar Overseas of Geneva, the overseas division of the U.S. firm, but would utilise the sales network of Cater- pillar's overseas division and engage in sales in South East Asian markets.
The Hong Kong firm was scheduled to handle busi- ness contacts with offices to be established in various S.E. Asian countries, develop new markets and manage after- sales operations. Establishment of a parts centre in Sin- gapore during the course of this year was also planned.
Caterpillar Mitsubishi has a monthly capacity to pro- duce 600 units, though it is now producing 350 units monthly. Indications are that this production will be raised to 400 units by the end of this year. While around 20 per cent. of the production of the joint venture is now being diverted for export, the company hopes to build up to over 30 per cent. The projected S.E. Asian sales net- work centering on Hong Kong stands to become a channel for greater exports.
JRM HOTEL-APARTMENT
Artist's impression of the proposed eight-storey JRM hotel-apartment, which has been designed by R. C. Gaite and Associates and is being constructed by Weldon Con- struction Corp., at L. Guerrero Street, Manila. The develop- ment will consist of 94 fully air-conditioned suites, with the ground floor to be oc- cupied by concessions and administration.
SINGAPORE ARCHITECTURAL AWARDS
THE Singapore Institute of Architects has invited ap- plications from graduate and under graduate architects for three awards amounting to M$10,000 offered by Sime Darby Singapore Ltd.
The awards are for an M$8,000 research fellowship for postgraduate studies to foster the undertaking of re- search in the general field of architecture, and two studentships worth $1,000 each.
The institute's president, Mr. Lim Chong Keat, said the awards were open to graduate and student members Further details are obtainable as well as non-members. from The Chairman, Scholarship Committee SIA Board of Architectural Education. 5th floor Nanyang Building, 63 Robinson Road, Singapore.
HONG KONG JOINT VENTURE
A JOINT Venture to manufacture concrete pipes and pro- ducts has been formed in Hong Kong by Doran Bros. Ltd., Hong Kong and Hume Industries (Far East) Ltd.. Singapore.
A new company. Hume Doran Ltd., has been incor- porated to acquire that part of the existing business of Doran Bros. engaged in the manufacture of reinforced concrete pipes to Public Works Department specifications for water supply, drainage and sewerage.
Hume Industries (Far East) Ltd. is a member of the Hume Group of Companies with headquarters in Austra- lia. In addition to capital contribution, Hume will provide technical services to enable the new venture to meet rigid standards of specification. Doran Bros., manufacturers and general contractors, will provide local management and other facilities.
HK BID FOR SYDNEY SCHEME
Two Hong Kong real estate companies Hong Kong Land and Investment Agency Co. and Hong Kong Realty and Trust Co. are reported to be interested in making bids for the multi-million dollar scheme to develop the "Rocks" area near the south side of Sydney harbour bridge.
Last December, the New South Wales Government broke off negotiations with James Wallace Pty., Australian developers and contractors, who had been granted the right to negotiate three years earlier.
BUILDING PLANS APPROVED
THE Building Authority approved a total of 26 new building plans of all types in Hong Kong, Kowloon and the New Territories in February.
During the same period, 67 newly completed build- ings were certified for occupation as compared with 86 in January. The total included 12 for domestic purposes. 13 for non-domestic and 42 for combined domestic and non-domestic use. In addition, the Building Authority also approved the demolition of ten buildings.
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Far East Architect & Builder April, 1967