XN000022-1989-08-17 — Page 9

THURSDAY, AUGUST 17, 1989

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ACCORDING TO THE BUILDING COVENANT, THE DEVELOPER IS REQUIRED TO COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 37,800 SQUARE METRES WITHIN 48 MONTHS FROM THE DATE OF POSSESSION OF THE LOT.

THE THIRD LOT, WHICH IS DESIGNATED FOR INDUSTRIAL AND/OR GODOWN PURPOSES (EXCLUDING OFFENSIVE TRADE), IS LOCATED AT AREA ON LOK TSUEN IN FANLING, THE TOTAL AREA IS 1,295 SQUARE METRES.

BIDDING OPENED AT $12 MILLION AND THE LOT WAS BOUGHT FESTIGOOD CO LTD FOR $15,3 MILLION.

THE DEVELOPER OF THE LOT HAS TO COMPLETE A GROSS FLOOR AREA NOT LESS THAN 3,885 SQUARE METRES ON OR BEFORE SEPTEMBER 30, 1993.

THE AUCTION, HELD AT THE CITY HALL THEATRE, WAS CONDUCTED THE ACTING GOVERNMENT LAND AGENT, MR TIM MILLS.

H

25,

BY

OF

BY

MR MILLS DESCRIBED THE SALE AS AN ENCOURAGING SIGN", HE SAID THE PRICES WERE EXTREMELY GOOD, PARTICULARLY THE SECOND RESIDENTIAL LOT WHICH IS LOCATED IN TUEN MUN.

"IN VIEW OF THE EVENTS IN CHINA IN JUNE, IT IS A REAL VOTE OF CONFIDENCE, IN MY OPINION,' HE ADDED.

"

RESTRICTIONS LIFTED ON IMPORTS FROM HK INTO ARGENTINA

A SPOKESMAN FOR THE TRADE DEPARTMENT CONFIRMED TODAY (THURSDAY) THAT RESTRICTIONS ON GOODS IMPORTED FROM HONG KONG INTO ARGENTINA BEEN LIFTED.

LIFT

HAD

TO

THIS FOLLOWS A RECENT DECISION BY THE ARGENTINE GOVERNMENT THE RESTRICTIONS ON IMPORTS FROM THE UNITED KINGDOM AND ITS DEPENDENT TERRITORIES.

THE RESTRICTIONS WERE INTRODUCED BY ARGENTINA EVENTS IN THE FALKLAND ISLANDS IN 1982.

FOLLOWING THE

THE SPOKESMAN SAID THE ARGENTINE GOVERNMENT'S DECISION ALSO ENDED RESTRICTIONS ON THE FINANCING OF ARGENTINE EXPORTS DESTINED THE UK AND ITS DEPENDENT TERRITORIES.

FOR

KONG

"CONSEQUENTLY, WITH IMMEDIATE EFFECT, TRADE BETWEEN HONG AND ARGENTINA WILL RECEIVE FROM THE ARGENTINE GOVERNMENT THE SAME GENERAL TREATMENT AUTHORISED FOR THAT WITH OTHER TRADING PARTNERS, HE SAID.

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HONG KONG'S TOTAL TWO-WAY TRADE WITH ARGENTINA WAS VALUED AT $648 MILLION IN 1988.

THE

"IT IS HOPED THAT THE REMOVAL OF THE RESTRICTIONS BY THE ARGENTINE GOVERNMENT WILL HAVE A POSITIVE EFFECT ON TRADE BETWEEN TWO PLACES," THE SPOKESMAN SAID.

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