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24. Sun Co. and John Lok are together involved in the construction of the
MTR Kowloon Bay depot. The residential development known as Telford Gardens will house some 25,000 people.
25. Sun Co. acquired controlling interest in Mei Fung Fibre Industrial and
intends to redevelop its nearly 10,000 square metre textile factory site at Tsun Wan.
Others
1977
1978
1979
1980
26. China Products Co. bought four storeys of Lok Sing Building, Causeway
Bay for $70 million, for its department store.
27. Associated Properties bought Sunning House for $8.2 million and the site
is now
being re-developed. The Sunning Plaza is expected to be completed by 1981, and will then be worth more than $600 million.
The company is headed by R.C. Lee of Lee Gardens and the other shareholders are said to be the Colonial Treasurer Incorporated, the Bank of China and the China Merchants Steam Navigation Co.
28. China Merchants Steam Navigation Company bought a 25-storey building at
303-307 Des Voeux Road Central for $61 million from Sweet Land Ltd. The company's headquarters will be moved into the building when completed.
29. Commercial Press has demolished its old godown and the 370 square metre
site at Finnie Street, Quarry Bay will be re-developed into a 16-storey residential building for its staff.
30. The New China News Agency purchased a 330-unit self-service hotel in
Happy Valley for $72 million from New World Development.
31. Tunisia Co. (a front) bought industrial land near Kwai Chung container
terminal for cargo handling and storage, in March 1978 for $27.1 million.
32. Hing Wai Ice and Cold Storage Company has started construction of its
new $100 million cold storage near Kwai Chung container wharf. Equipment worth $10 million from China is being used in the 16-storey building which is mainly for the storage of frozen foodstuff from China.
The older plant at Shek Pai Wan, Aberdeen built two years ago, is also equipped with Chinese machinery.
33. Yue Hwa Chinese Products Emporium Ltd. is to open its fourth branch
at the Kowloon Bay Mass Transit Railway Station. The company is to rent two storeys of a government building still under construction.
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