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under the State Council, has been involved in investment banking activities since its inception and has obtained a retail banking licence from the State Council only
recently.
The take-over of Ka Wah Bank can be regarded as a significant move taken by the corporation to step-up its retail banking business in Hong Kong.
31.
In another take-over, Hong Kong and Macau Investment Company Limited, 40% of the shares of which Involve Chinese capital, acquired Sun King Fung Development Ltd- to form a new company called Tylfull. new company will be engaged in property and financial
business.
The
32.
Other significant investment projects involving Chinese capital include the participation of CITIC in a consortium for financing, building and operating the
Everbright second cross harbour tunnel in Hong Kong. Industrial Corporation also plans to collaborate with Kumagai Gumi Co. Ltd. and Cheung Kong (Holdings) Ltd to develop property above the MTR station at the northern entrance to the tunnel.
33.
China Resources (Holdings) Co. Ltd. and China Merchants Steam Navigation Co. Ltd. (CMSN) have also
The former has expanded their business in Hong Kong.
announced plans to invest HK$250 million to develop a godown and a pier in Cheung Sha Wan for handling freight. While the latter has agreed in principle to purchase Euro-Asia Dockyard on Tsing Yi Island.
IDENTIAL 3
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