XN000022-1984-01-03 — Page 3

TUESDAY, JANUARY 3, 1984

ADMIRALTY I SITE SALE DUE FEBRUARY 15

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IN RESPONSE TO A REQUEST FROM THE REAL ESTATE DEVELOPERS' ASSOCIATION, THE SALE OF THE ADMIRALTY I SITE AT THE JUNCTION OF QUEENSWAY AND COTTON TREE DRIVE, WHICH WAS TO TAKE PLACE ON JANUARY 18, WILL NOW BE HELD ON FEBRUARY 15.

THE DIRECTOR OF LANDS, MR JOHN TODD, SAID TODAY (TUESDAY) THE ASSOCIATION HAD REQUESTED THE POSTPONEMENT IN VIEW OF THE GOVERNMENT ANNOUNCEMENT ON DECEMBER 16 THAT THE CONDITIONS OF SALE WERE BEING AMENDED SO THAT A HOTEL COULD BE BUILT ON THE SITE.

+THEY WANT MORE TIME TO CONSIDER IN VIEW OF THIS DEVELOPMENT, + HE SAID. THE BASIC TERMS WOULD REMAIN THE SAME, EXCEPT THAT THE BALANCE OF THE PURCHASE PRICE WOULD BECOME PAYABLE BY MARCH 23.

THE SALE OF THE 6 312-SQUARE-METRE SITE FOR COMMERCIAL DEVELOPMENT WAS ANNOUNCED BY GOVERNMENT ON DECEMBER 2.

MR TODD SAID THE AUCTION OF FIVE OTHER SITES WOULD STILL BE HELD ON JANUARY 18 IN THE JADE BALLROOM OF THE FURAMA HOTEL AT 2.30 PM.

THEY ARE IN KOWLOON BAY, LUNG CHEUNG ROAD NEAR WONG TAI SIN, SHA TIN AND TUEN MUN, AND ARE FOR NON-INDUSTRIAL, PRIVATE RESIDENTIAL AND INDUSTRIAL AND GODOWN DEVELOPMENT.

ELECTRICAL, ELECTRONICS PRODUCT EXPORTS RISE

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SOME $6 709 MILLION WORTH OF ELECTRICAL MACHINERY AND APPLIANCES, INCLUDING ELECTRONICS PRODUCTS, WAS EXPORTED IN THE THIRD QUARTER OF LAST YEAR, ACCORDING TO FIGURES RELEASED BY THE CENSUS AND STATISTICS DEPARTMENT.

THIS WAS $2 429 MILLION OR 57 PER CENT MORE THAN THE $4 280 MILLION WORTH OF SIMILAR PRODUCTS EXPORTED IN THE CORRESPONDING 1982 PERIOD, AND WAS THE LARGEST INCREASE IN ABSOLUTE VALUE OF ANY INDUSTRY GROUP, ACCORDING TO THE STATISTICS.

THESE FIGURES WERE AMONG THE DOMESTIC EXPORT STATISTICS ANALYSED BY INDUSTRIAL ORIGIN FOR THE THIRD QUARTER OF 1983 BY THE DEPARTMENT.

A SPOKESMAN FOR THE DEPARTMENT EXPLAINED TODAY THAT THIS SERIES IS DERIVED BY REGROUPING ALL SIX-DIGIT COMMODITY EXPORT ITEMS UNDER THE PRESENT EXTERNAL TRADE CLASSIFICATION SYSTEM ACCORDING TO THE INDUSTRIES IN WHICH THESE COMMODITY ITEMS ARE NORMALLY PRODUCED.

SINCE ITS SCOPE IS CONFINED TO MERCHANDISE TRADE, TRANSACTIONS IN GOLD AND SPECIE ARE NOT INCLUDED.

/IN TERMS