C.
RESTRICTED
Guangdong Ship Building Company
Wah Cheong International Group
10
It was reported on December 28, 1980 that the Guangdong Ship Building Company (*****) (GSBC) and the Wah Cheong International Group (*) of Singapore had signed an agreement in Hong Kong on the formation of a joint venture company called the Wah Cheong International Vessel Company Limited ( ***** RA). It would handle business in Hong Kong and overseas regarding the export of ships built by GSBC, including those orders for the company's five shipyards in Huangpu (), Guangzhou (H), Xinhui (), Kaiyeung() and Dongguan
), and would promote the exchange of technology.
Contributions towards capital investment by the two partners were on a 50–50) basis. The joint venture agreement was for three years, subject to renewal on expiry. The chairman of the board of directors of the Wah Cheong Ship Building Company and Wah Cheong International Group, Mr. Ho Yat-wah, said the new joint venture would bring closer ties between Singapore, Hong Kong and China. It would also set an example for future co-operation.
Since the beginning of the year, GSBC has delivered 27 barges to Hong Kong and has still in hand orders from Hong Kong merchants for 15 barges and a tug boat. These vessels are expected to be ready for delivery in the first half of next year.
D. Ming Wah Shipping Company
Prompt Shipping Company
It was reported on June 6, 1980 that the Hong Kong Ming Wah Shipping Company, a unit of China Merchants Steam Navigation Company(), and Prompt Shipping Company (RA) of Hong Kong jointly formed a new Panamanian- based company called Yang Sze Maritime Carriers Incorporated. Each company had a 50 per cent stake in the new venture.
The joint venture owns one ship which has been chartered to a Japanese shipping line. A spokesman for Prompt Shipping said several similar joint ventures were being planned by the two groups.
E.
World-Wide Shipping Group
China Corporation of Shipbuilding Industries
China National Ship Chartering Corporation
In March, 1980, Hong Kong's World-Wide Shipping Group (FREDA 191 signed a joint venture agreement with China Corporation of Shipbuilding Industries (IA) and the China National Ship Chartering Corporation to form the International United Shipping and Investment Company Limited.
The new company has a paid up capital of $250 million, with the Chinese companies contributing 45 per cent and the World-Wide Shipping Group 55 per cent.
The company would concern itself with the purchase, acquisition, sale and management of all types of ships and shipboard equipment, dealing in the shipping business. and investment management and all other shipping-related business.
3.
It would have offices in Hong Kong and Bermuda.
JOINT RESEARCH AGREEMENT
Hong Kong's Peter Cheng Naval Architect and Marine Consultants ( TERM WHĦRA) signed a technical co-operation agreement with the China Ship Scientific Research Centre in Wusih and the Shanghai Ship Design and Research Institution, in Shanghai, both members of the China Corporation of Shipbuilding Industries (Pekmi di
IA), it was reported on April 15, 1980.
The agreement covered the exchange of technical information on ship design. shipbuilding and ship equipment.
Joint design of standard ships would be undertaken between the Hong Kong firm and Shanghai Ship Design and Research Institution and the design would be used either for ships to be built in China for export or for serving shipyards in third countries lacking design facilities.