9
China Everbright
Lotus
venture
Scientific
Holdings Co. Ltd. and Hong Kong
Development Ltd. formed a joint
to set up a factory at Ping Shan, Yuen
Long to produce colour picture tubes. Total
investment was estimated at US$70 million and
operation was scheduled to commence at the end of
1987.
1987 Q2
CITIC (HK) acquired a 12.5% stake in the Cathay
Pacific Airways. Ltd.
The deal was valued at
HK$1.94 billion.
China Resources (Holdings) Co. Ltd. formed a
partnership with China National Electronic
Corporation, another PRC-interest company, to set up a US$100 million factory at Tai Po to produce
cathode ray tubes for TVs.
Production was
expected to start in 1989.
Yue Xiu Enterprises Ltd. invested HK$10 million
to acquire a 35-40% interest in the Arkon
Industrial Ltd., a local firm manufacturing torches, flash lights and metal products.
An un-named PRC-interest firm planned to
cooperate with Star Paging Company to produce
mobile telephone sets. Initial investment of the
project was estimated at around HK$10 million.
Tianlien Co. Ltd. (a firm associated with the
Tianjin municipal authorities) acquired a 40%
interest in the King's Dyeing and Weaving Co.
Ltd., a large local textiles and finishing
factory.
The technological and management
knowhow acquired by this company would in turn be transferred to Tianjin.