XN000022-1989-12-28 — Page 2

THURSDAY, DECEMBER 28, 1989

GOVERNMENT LAND SOLD FOR $1,199.1 MILLION

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THREE LOTS OF GOVERNMENT LAND WERE SOLD FOR A TOTAL OF $1,199.1 MILLION BY THE BUILDINGS AND LANDS DEPARTMENT TODAY (THURSDAY).

TOPPING THE LIST WAS A LOT AT TAT CHEE AVENUE IN YAU YAT TSUEN WHICH WAS BOUGHT BY GRANNIS LTD. FOR $1, 065 MILLION. BIDDING OPENED AT $600 MILLION.

THE LOT IS FOR PRIVATE RESIDENTIAL PURPOSES AND COVERS 27,300 SQUARE METRES.

THE SECOND LOT IS A PRIVATE RESIDENTIAL SITE LOCATED IN ΤΑΙ MONG TSAI IN SA1 KUNG AND HAS AN AREA OF ABOUT 3,550 SQUARE METRES. IT WAS BOUGHT BY FRESH BEAUTY CO. LTD. FOR $12.1 MILLION. BIDDING OPENED AT $5 MILLION.

THE THIRD LOT IS LOCATED IN AREA 11, SHA TIN NEW TOWN WHICH COVERS AN AREA OF ABOUT 3,400 SQUARE METRES. THE LOT 15 DESIGNATED FOR GODOWN (EXCLUDING DANGEROUS GOODS AS DEFINED IN THE DANGEROUS GOODS ORDINANCE) PURPOSES.

BIDDING OPENED AT $65 MILLION AND THE BUSINESS VENTURE LTD. FOR $122 MILLION.

THE AUCTION, HELD AT THE CITY HALL THEATRE, THE ACTING GOVERNMENT LAND AGENT, MR H.K. NG.

LOT WAS BOUGHT BY

WAS CONDUCTED BY

MR NG SAID HE WAS VERY SATISFIED WITH THE PRICES WHICH WERE MUCH BETTER THAN EXPECTED.

HE SAID PROPERTY PEOPLE WERE VERY OPTIMISTIC AND CONFIDENT IN THE MARKET.

"THEIR RESPONSES ARE VERY GOOD, MR NG SAID.

HK SEEKS TO IMPROVE GATT ANTI-DUMPING CODE

THE GOVERNMENT HAS SUBMITTED A PAPER TO THE GATT URUGUAY ROUND NEGOTIATING GROUP ON MULTILATERAL TRADE NEGOTIATIONS, AGREEMENTS AND ARRANGEMENTS PROPOSING IMPROVEMENTS TO THE EXISTING ANTI-DUMPING CODE.

"THIS IS THE THIRD AND LATEST SUBMISSION MADE BY THE GOVERNMENT. THE FIRST AND SECOND SUBMISSIONS WERE MADE IN JULY AND SEPTEMBER, THE DIRECTOR-GENERAL OF TRADE, MR MICHAEL SZE, SAID.

IN THE LAST TWO YEARS, HONG KONG HAS BEEN A TARGET OF ANTI-DUMPING PROCEEDINGS INITIATED BY MAJOR IMPORTING COUNTRIES,

HONG KONG'E