t.
14
rable
Lug at that
sully placed all the bonds two weeks after the isue was launched, notwith.tanding the fact that the
coupon rate was 1% Love Chan time. A general expectation of falling interest rates was one of main reasons behind its LUCCQ5S Following CITIC'S success, Guangdong International Trust and investment Corporation is planning a public bond issue in Hong Kong to finance developments in South China.
24.
Diversification by some PRC-based enterprises has also been seen in recent months. For instance, the China Merchants Steam Navigation Company agreed to invest HK$250 million in a hotel project in Western District. Construction work started in October 1985. Hong Kong Macau International Investment Company, with several Chinese Government backed organizations as its shareholders, established Dragon Airline Linuted in
The Airline obtained a commercial air-operators' certificate in July. Subsequently, in October, Sir Y K Pao became the major shareholder of Dragon Airline Limited, with Hong Kong Macau International Investment Company retaining a 25% share.
April.
25.
Other significant developments include the establishment of Vitality Investment and Development Limited in May, engaging mainly in trade, finance, stocks and property. Its scale of business in the longer term will probably match that of Everbright Industrial Corporation. In the banking sector, the Bank of China and the Hongkong and Shanghai Banking Corporation jointly supported Ka Wah Bank by offering the latter stand-by credit lines.
G.F. 326
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