16
Shum Yip (Holdings) Co. Ltd. sold two residential
blocks at Pokfulam to a local company for HK$250
Shum Yip incurred a loss of 10% in this
million.
deal.
CITIC (HK) sold half of a block or 60 flats of
the Sceneway Garden to two local buyers for over
HK$106 million.
gained HK$23.3 million
CITIC
from this deal.
A
PRC-interest company sold half of a block of
the Sceneway Garden for HK$180 million.
million was earned from this deal.
HK$27.5
A Hunan-interest company purchased a residential
building on 'the Hong Kong Island at a price of
HK$97.5 million.
A
the
Shandong-interest company bought one floor in
office tower of the Convention Plaza at HK$81
million.
Co.
a
The United Publishing Group, comprising of the
Commercial Press (HK) Ltd., Joint Publishing (HK)
Ltd. and Chung Hwa Book Co (HK) Ltd.,
invested around HK$100 million to purchase
pro-China newspaper "Jing Po" which ceased
operation
in March 1991. The Group had already
purchased
pro-China newspaper "Hong Kong
Commercial Press" at HK$160 million in December
1989.
another
The China Enterprises Association was inaugurated
in early June
co-ordinating
1991 with the objective
the
economic activities
of
of
PRC-interest enterprises in Hong Kong.