XN000022-1986-06-27 — Page 18

FRIDAY, JUNE 27, 1986

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+ IT SHOULD ADDITIONALLY POINT THE WAY TO HOW THIS POTENTIAL COULD BEST BE REALISED, THROUGH INVESTMENT, MARKETING AND OTHER MEANS.+

MR YEUNG WAS SPEAKING AT THE OPENING OF THE SECOND PHASE COMPUTER KNITTING FACTORY OF LAWS FASHION KNITTERS LIMITED.

HE SAID THAT WHILE THE LAST TWO YEARS HAD BEEN ONE OF THE MOST DIFFICULT PERIODS FOR HONG KONG'S KNITWEAR INDUSTRY, THE INDUSTRY HAD PURCHASED, MAINLY FROM JAPAN, ABOUT $400 MILLION WORTH OF MODERN KNITTING EQUIPMENT.

+LAWS' SHARE IN THIS HAS DEEN MORE THAN $50 MILLION, OF WHICH THE FIRST $30 MILLION WORTH OF EQUIPMENT HAD BEEN INSTALLIN AS EARLY AS APRIL 1985, + HE NOTED.

MR YEUNG APPLAUDED THE COMPANY FOR ITS INVESTMENT IN PRODUCTIVITY AND QUALITY ENHANCEMENT AND ITS DECISION TO FURTHER INVEST IN ITS COMPUTER-AIDED MANUFACTURING SYSTEM.

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SIX NT LOTS FOR SALE BY TENDER

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REGISTERED HOLDERS OF LAND EXCHANGE ENTITLEMENTS (LETTERS A AND B) ARE BEING INVITED BY THE BUILDINGS AND LANDS DEPARTMENT TO TENDER FOR SIX LOTS IN THE NEW TERRITORIES.

THREE OF THE SITES ARE IN YUEN LONG AND THE OTHERS ARE IN FANLING, TUEN MUN AND SHA TIN.

THE YUEN LONG SITES, OF 760, 710 AND 412 SQUARE METRES, ARE AT YAU SAN STREET AND ARE FOR NON-INDUSTRIAL, BUT EXCLUDING GODOWN PURPOSES.

LOCATED CLOSE TO THE RAILWAY STATION, THE FANLING LOT OF 2,28 HECTARES IS FOR PRIVATE RESIDENTIAL DEVELOPMENT OVER A COMMERCIAL PODIUM, THE FIRST DEVELOPMENT OF ITS TYPE LOCALLY.

THE SUCCESSFUL TENDERER WILL BE REQUIRED UNDER THE BUILDING COVENANT TO BUILD UP TO 2 500 RESIDENTIAL FLATS WITH A TOTAL GROSS FLOOR AREA NOT EXCEEDING 100 000 SQUARE METRES ABOVE THE THIRD LEVEL OF THE DEVELOPMENT.

THE COMMERCIAL PODIUM WILL PROVIDE A MAXIMUM OF 27 500 SQUARE METRES FOR SHOPS, PARKING SPACES, RECREATIONAL AREAS, COMMUNITY FACILITIES AND POSSIBLY A CHILDREN'S NURSERY.

THE SUPERSTRUCTURE SHOULD BE COMPLETED BY DECEMBER 31, 1990.

/MEASURING 6 849