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7
REAL ESTATE
1. Kiu Kwong Investment
It was reported on September 30, 1980 that the Beijing-controlled Kiu Kwong Investment (ROAD) had spent a total of $350 million for the purchase of two sites in Kowloon Bay with an area of 5 450 and 5 820 square metres respectively for the construction of two godowns to meet the growing demands of China's export and re-export trasie through Hong Kong.
(See atos SEA LINKS-7C in CNR No. 32)
2.
Chinese Arts and Crafts (Hong Kong) Limited
On October 14, 1980 Silvercord Limited, a seven-member consortium, concluded arrangements for a Hong Kong dollar syndicated loan to pay for the development of a
site.
The consortium was headed by Canadian Eastern Finance Limited (33 per cent). a 50/50 joint venture between Cheung Kong and the Canadian Imperial Bank of Commerce that included Hong Kong and Kowloon Wharf (HETRAS
) (20 per cent), Hong Kong Land (HA) (20 per cent), Chinese Arts and Crafts (HK) Limited ([F] HRA) (20 per cent), Unisouth Limited (NKA RA]) (5 per cent) and Sun Hung Kai Securities (STRAD) (2 per cent).
The loan was being made in three tranches, with the first tranche carrying interest at an undisclosed margin over the local prime rate and the other two tranches carrying interest at an undisclosed margin over the local inter-bank rate.
years.
The size of each tranche was not disclosed but the loan would mature in three
The loan of $1 125 million was arranged by the Canadian Imperial Bank of Commerce and is lead managed by the Bank of China, the Canadian Imperial Bank of Commerce, Chase Manhattan Asia Limited and the Hong Kong and Shanghai Banking Corporation. Participants included eight other banks.
3. China Merchant Steam Navigation Company Limited
It was reported in November and December last year that the company would spend more than $400 million on building a wharf in Hong Kong specially for loading and unloading cargo on board Chinese vessels of 10 000 to 20 000 tonnes.
A proposal to have the wharf built at Tai Lam Dui near Tuen Mun had been submitted to the Hong Kong Government and the company was still waiting for a reply. (See also SEA LINKS-7A in CNR No. 32)
4. China Corporation of Shipbuilding Industries
According to a report on November 11, 1980. the managing director of China. Corporation of Shipbuilding Industries (IRA). Mr. Wong Ze, said China had discussions with members of the local shipping community on possible locations for shipyards in Hong Kong to service China-made vessels in response to demands from shipowners.
See also SEA LINKS-9B in CNR No. 32)
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