XN000022-1990-09-25 — Page 8

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TUESDAY, SEPTEMBER 25, 1990

GOVT LAND SOLD FOR $106.35M

SOLD

LANDS DEPARTMENT

TWO PIECES OF GOVERNMENT LAND IN THE NEW TERRITORIES WERE FOR A TOTAL OF $106.35 MILLION BY THE BUILDINGS AND AT A PUBLIC AUCTION TODAY (TUESDAY).

AT AREA

4B,

SHEUNG

THE FIRST ONE IS A 929-SQUARE-METRE SITE SHUI FOR INDUSTRIAL AND/OR GODOWN PURPOSES, EXCLUDING OFFENSIVE TRADE.

IT WAS BOUGHT BY

GRANT RETURN

MILLION WITH BIDDING OPENED AT $7 MILLION.

INVESTMENTS

LTD

FOR $10.35

OF NOT

ACCORDING TO THE BUILDING COVENANT, A GROSS FLOOR AREA LESS THAN 2,788 SQUARE METRES MUST BE COMPLETED BY SEPTEMBER 30, 1993.

STREET, SHA TIN.

LTD. BIDDING

THE OTHER LOT IS LOCATED AT AREA 11, ON MUK

$96 MILLION TO IT WAS SOLD FOR

INVESTMENT GENRIGHT OPENED AT $85 MILLION.

THE 3,250-SQUARE-METRE SITE IS FOR GODOWN DANGEROUS GOODS GODOWN.

PURPOSES, EXCLUDING

GROSS FLOOR AREA OF

THE DEVELOPER IS REQUIRED TO COMPLETE A NOT LESS THAN 18,525 SQUARE METRES BEFORE SEPTEMBER 30, 1994.

THE AUCTION, HELD AT THE CITY HALL THEATRE, THE GOVERNMENT LAND AGENT, MR JOHN CORRIGALL.

WAS CONDUCTED BY

HEAVY INVESTMENT IN INFORMATION TECHNOLOGY NECESSARY

HONG KONG MUST CONTINUE TO INVEST HEAVILY

PRODUCTS AND INFORMATION TECHNOLOGY ('IT'}

IMPORTANT MAINTAIN ITS PIVOTAL POSITION AS AN AND INDUSTRIAL CENTRE IN THE REGION.

IN

IN STATE-OF-THE-ART SYSTEMS

ORDER FINANCIAL, COMMERCIAL

TO

SAID THIS THE SECRETARY FOR TRADE AND INDUSTRY, MR JOHN CHAN,

'90 AT THE HONG KONG TODAY (TUESDAY) AT THE OPENING OF CENIT ASIA CONVENTION AND EXHIBITION CENTRE.

HE SAID THIS SHOULD ENCOURAGE MORE MANUFACTURERS OF 'IT'

EXPAND PRODUCTION IN ORDER TO TAP PRODUCTS TO DIVERSIFY AND

THE RAPIDLY GROWING MARKET IN HONG KONG AND IN THE ASIA-PACIFIC REGION.

ON SPECIALISTS "SINCE THE FURTHER DEVELOPMENT OF 'IT' DEPENDS

THE GOVERNMENT WILL DO ALL IT CAN TO AND EXPERIENCED MANAGERS,

BE IMPROVE AND EXPAND 'IT' EDUCATION AND TRAINING, SO THAT THERE WILL

MR CHAN SAID. AN ADEQUATE SUPPLY OF SKILLED PERSONNEL IN THE AREA,

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/HE SAID