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WEDNESDAY, JULY 17, 199T
STATEMENT ON DAO HENG BANK LTD
DAO HENG BANK HAS
IN RESPONSE TO THE CONCERN OF DEPOSITORS, ISSUED A PRESS RELEASE CLARIFYING ITS PRESENT POSITION.
FOR A LOSS OF CONNECTED TO THE
KONG
THE LTD. PRESENT FINANCIAL
SEES NO REASON THE COMMISSIONER OF BANKING CONFIDENCE IN DAO HENG. THE BANK IS NOT IN ANY WAY
OF CREDIT AND
HONG PROBLEMS OF THE BANK
COMMERCE COMMENTARY
IT'S ON
COMMISSIONER NOTES THE BANK'S STANDING, ITS LIQUIDITY POSITION AND COMMITMENT TO CUSTOMER BUSINESS.
HAVE THE BANK'S MAJORITY SHAREHOLDERS
ITS
OPERATIONS.
THIS
IS
STRONGLY
WELCOMED
REAFFIRMED THEIR FULL BY THE
SUPPORT FOR COMMISS (ONER OF DANKING.
TO SUPPLEMENT THE BANK'S
OWN
THE RESOURCES,
OFFICE OF THE
HENG ON
EXCHANGE FUND HAS AGREED TO PROVIDE LIQUIDITY SUPPORT TO DAO NORMAL COMMERCIAL TERMS.
TWO GOVERNMENT LOTS FETCH $1,031 MILLION
OF $1,031 AUCTION
TWO PIECES OF GOVERNMENT LAND WERE SOLD FOR A TOTAL
DEPARTMENT AT A PUBLIC MILLION BY THE BUILDINGS AND LANDS HELD THIS (WEDNESDAY) AFTERNOON.
BOTH LOTS ARE LOCATED IN THE NEW TERRITORIES.
AN
IN FANLING. IT HAS THE FIRST LOT IS LOCATED AT AREA 47A OF
13,530 SQUARE ABOUT
METRES
FOR AND IS
NON-INDUSTRIAL (EXCLUDING GODOWN) PURPOSES, BUT RESIDENTIAL ONLY ABOVE LEVEL THREE.
AREA
IT WAS BOUGHT BY WORLD EMPIRE INVESTMENT MILLION. BIDDING OPENED AT $400 MILLION.
LTD
FOR $1,010
ON OR
OF NOT BEFORE
ACCORDING TO THE BUILDING COVENANT, A GROSS FLOOR AREA
METRES IS TO BE COMPLETED
LESS THAN 43,269 SQUARE SEPTEMBER 30, 1994.
THE OTHER LOT, LOCATED AT AREA
SITE DESIGNATED FOR 1,536-SQUARE-METRE PURPOSES, EXCLUDING OFFENSIVE TRADES.
261, KWAT INDUSTRIAL
CHUNG, AND/OR
IS A GODOWN
BIDDING OPENED AT $15 MILLION AND THE LOT MILLION INTERNATIONAL LTD FOR $21 MILLION.
WAS SOLD ΤΟ
GRAND
OF NOT LESS
THE DEVELOPER HAS TO COMPLETE A GROSS FLOOR AREA THAN 4,608 SQUARE METRES WITHIN 36 MONTHS FROM THE DATE OF AGREEMENT.
THE AUCTION, HELD IN THE CITY HALL THEATRE, THE GOVERNMENT LAND AGENT, MR NIGEL BURLEY.
WAS CONDUCTED BY
MR BURLEY SAID HE WAS ASTOUNDED AT ULTIMATE HIGH PRICES ACHIEVED.
THE SPIRITED BIDDING
AND
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