THE CHINA MAIL, SATURDAY, NOVEMBER 25, 1961.
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KUNSTWAVANzassző Sole Distributora,
MARLY WICKING & CO., LTD, WRANGLE
滬光珠寶公司
Aston!WELLERY CO.
MAN YEE BLOG,, 71 QUEEN'S RD. CHONG KONG
TEL: 21750 23761 28727
HOKŠ KONG'S BEST STORE FOR
DIAMONDS JADES REAL
& CULTURED PEARLS
* PRECIOUS STONES
ORIENTAL PACIFIC MILLS. LTD.
A dyed in the wool' tycoon
named Billy
"HONGKONG is out on a limb getting industrialised while
remaining a free port," said the woollen textile tycoon, Mr Billy K. P. Chao.
"Paradoxically, it's like coexistence between two parties at a tug- of-war, with industrial protectionists on the one hand and free-traders on the other."
But he warned, "It's time Hongkong ronsidered how to protect its buckling industries. If it wants to develop along the
industrial fine."
While saying so. the byeons had in mind the future at Hong- kung's biggest woollen
textile combine as well as the industrini future of the whole Colony
Forty-three-year-old Mr Chac Is a permanent director of the Oriental Расте Mills id tworsted and woollen spinners), Managing Director of the Hong- kong Wood Industries Ltd (wobj and worsted weaving an finishing plant) and a director of the Imex Corp Liel awonlien knitwear).
jen
Between
Supply
In 1954 when Hongkong lust The wheed of fortune took a traditional wool tups trans- Storm for the better when in 1958 shipment trade with the main- the glove industry recovered and Land China, the new Pacific overseas buyers clamoured for Worsted Mills was formed under Hongkong woollen knitwear, Mr Chas with the assistance of
of particularly the fully fashioned Mr H. Y. Lu, to turn wool tops jumpers and sweaters. into weaving and knitting yarns. Oriental Pacific came in the The expanding glove-making nick of time to supply almost all industry in Hongkong and the the 90 knitting factories iri heavy purchase of worsted yarn Hongkong with yarns, exporting
South Korea
time the rest to the Middle East, New be brought about a period of pro- Zealand, USA, and the Philip- speaty for the two worsted pines. mills from 1954-56.
at the
Bankruptcy
ting factory, Sex Carp. Liệ
The combine has its own knit-
which was set up in 1955 to produce sweaters, cardigans and other knitwear for both local But the short-lived boom consumption and export to
UK, tapered off soon after when Germany, USA. and Scandinavia. the local glove industry de-
The latest nk added to the clined and South Korea stop- combine is the Hongkong Wool ped purchasing the Hong Industries Ltd which had kong market, putting the two modern Dyrer
tocul mills on the verge of already
ther. The plants have a total capacity for turning wut
then $50 million worth of woollen pro- ducts a year.
יניות
if need be, we could supply the whole Colony," he said.
The story of this woollen com- bine dates back to 1948 when the Oriental Corporation (worst- ed spinning and glove-making) people moved to Hanging from
China
bankruptcy.
its
machinery installed
in
un the premises
2 Texato-road, Tsun Wan, ot
German
However the two mills had cost of $1,000,000.
in common: this in
Both had left the mainland with a
view to staking out a new life in Hong- kong and both were beyond the point of returning to China.
To pull through the doldrums, the two mills joined hands and merged into one. Thus Oriental Pacific was born in Kwai Chung on July 1, 1960.
Navy starts testing 'flying' warships
By PETER FAIRLEY
THE Royal Navy is going into the hoverearft business
volutionary "flying saucers"-skimming over water or land on a cushion of air-could make excellent fighting ships.
A special unit to conduct sea trluts of new types of hovercraft
لاریا
units:
of
CONTINUING
TITANS
FROM
THE
NORTH
by
DAVID
LAN
Hongkong's wool industry, in Mr Chao's opinion, has bright prospects. However, he admitted, "Its future is linked with the
This new plant, a pioneer in fate of other industries." Hongkong in the fields of wool-
"If the general circumstances len piece-goods manufacturing do
not develop, in favour of from year and finishing process, was Hongkong industries," he went Chap. founded in January this year by on, "this budding industry, will Mr Chao with the full support also suffer.
all directors of Oriental "On the contrary, if other in Pacific as well as Messrs N. B. dustries can just hold their own, Chan and E. K. Hwa, former this industry will develop at a far quicker pace ... because the executives
biggest ni: exectur worsted mills in China.
Assisting Mr.Chao in manage like ment is George T. S. wa newly
1948-50." returned from the Untied. States.
To strengthen the pioneer- ing fields of production in the latest link of the combine, Weaving Department been placed under the vision
super-
of Mr Peter Chien, a British - educated engineer, having actual experience in the Huddersfield mills, and
Mr Kurt Poetschke, a German expert in finishing process,
BILLY K. P. CHAO
snag.
to year," said MrAnd here lies the
Most of the local manufac- turers and exporters do not have adequate facilities for. D/A business which tles up large amounts of capital for
that,
us in securing the
The
tycoon admitted Hongkong's major competition Beld came from Japan and Tai- war.
long perioda. "We are at disadvantages in respect of land price, power rate
"But other countries covered it is young, vigorous, and is and labour wage," he said. by credit insurance system will facing a favourable situation By way of comparison. he be in a better position to com-
the cotton industry in pointed out that "for Hongkong pete with
industrial development, land orders!" price has been the biggest The stin young industrial handicap. It takes up the lion's magnate with an unlimited share of capital outlay parti- future was born in soollen cularly in the cases of light shop to a woollen merchant
dustries,
ALATA"Because," he said, "under father in Shanghai in Novem-
here is abert the such a system, the exporters at "Power ber, 1917.
most expensive in the world, a cost of one per cent premium In Japan and Taiwan the
are not only insured against hydro-electric power is much risks of incurring overseas bad cheaper ther the fael debts but are enabled to obtain generated power in Hongkong ready cash immediately on pre- And wages! The average senting the Insured bills of he wage in Japan is about 70 per acceptance to a bank.
Branches
"You could say I was dyed has taken charge of the Finish in the wool at birth," ing Plant.
chuckled. "And I was manager cent of that in Hongkong while The woollen textile combine at 19. We owned one factory, in Taivan it is only about one
Woollen obtains the raw material, wool. Hong Ziang
Goods fourth as much."
Compete
Insured
The credit insurance system. according to Mr Chao, is already in force in the UK, Australia, Germany and Canada, mostly. under the sponsorship of gov- ernments concerned.
is to be set up at Lee-ch-Solent, manding officer and be driven
Coxswain on the Royal Naval Air Station.
War Office experts believe tops, mainly from Australia and Manufacturers. We were doing H.M.S. Ariel.
100 that the strange, ex UK and partly from South worsted-weaving and finishing Information gleaned from the cushion vehicles have a future America and South Africa. but no spinning." trials during the next two years in a supply and support role This new industry in Hong- "WII Legared fully will"" ""the" "for
Mr Chap had expanded his hong keeps marching on with woollen retail and wholesale "To compete with Japan and He hoped the Hongkong RAF and the Amy.
RAF is interested in their time. The Oriental Pacific is business in a short period before Taiwan, continted Mr Chuo,
Federation of Industries who An Admiralty spokesman potentiality na mine-hunters and
rauloped with a complete in- 1940 and established branches in "we must rely on better sales are taking up the matter would said: "The future of hovercraft air-se rescue ambulances.
for quality control Shanghai, Chungking, Nahldng manship, Imperial Preference, expedite the system. in many military roles will de Si
The First Sea Lord, Admiral boratory
and advancement.
and Taipel.
duty-free raw material, and
In the hour of quandary when at the second generation of ability is ultimately achieved.
He came to Hongkong in 1949. bienking new ground in market Hongkong Dilustries are facing many difficulties, Mr Chao, feel- "Preliminary studles
hovercraft the other day. He
He ran the Oriental Pacific in ing.
ting in the same boat, called for conjuncilon with five other To further enhance the com- solidarity among the local in that there in
directors, Mesara. S. H. Dong, petitiveness of Hongkong ex-dustrialists. that their
sea-worthiness can be ger-carrying successor to Bri-
"We are now studying new C. S. To, Harvey C. Sung, ports". Mr Chao urged Govern- developed to the extent that ain's first "saucer-now be
union_lles at Cowes, Isle ing bullt
of bynthetic Abre suchos acrylic, Herbert M. Sung, and Frank C. ment to bring about they could be used satisfactorily, wight.
credit and polyester fire," Mr Chao H: Jen, whose joint meeting de insurance system for exports at, strength,” he added. conditions,
At present, all development of disclosed, "It's going to be
the plant policies
-pend on--what sen-keeping- Cepat Tohu, took his first
fri
a good care inspected: SIR.N-2-the possCIÍ→
Prospects
an early date.
Europe
YAYixibution Britain
in in the hands of five system for USA Sa
might be able to the new form of transport in turned into tand by com The thred factories employed Event the fee 18387
of 1,000 people, the 1900 to, canvass, Gosiness,” väid
bleus
and amphirms and a research company-
Hovercraft Development Lek
The Admiralty. spokesman on which the faventor, Mr
added: "All-novel hovercraft Christopher Cockerell, serven as
will be treated as ships. They a alrecion will commission within com- 2
London Express Berstes).
revealed
total whole
woollen
In Mr Chao. "But I found that y
"For: in
the maschinery the Hongkong including knitwear most overdens buyers Wanted Wednesday-
Bnialiiar seption of the Hong- and glove factories sustains the 60-120 days credli (D/A
kong Wool Indeeiries Lit, de livelihood 62 more than 15,000 mont te delivery
fully automatic new in the worker and their dependenta ceptance) before actual pay MR KK. TSE
Far East
whose numbers are increasing mont...
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