TNAG-2467-FCO40-3591-Economic-situation-in-Hong-Kong-1992 — Page 20

Airport site formation contract signed

The Provisional Airport Authority has completed the award of the contract for the formation for the 1,248 hectare island for the replacement airport at Chek Lap Kok. The HK$9.04 billion (US$1.17 billion) contract has been awarded to the Airport Platform Contractors Joint Venture, comprising: Nishimatsu Construction of Japan; Costain Civil Engineering, UK; Morrison Knudsen, US: China Harbour Engineering, China; Ballast Nedam BV, the Netherlands; and Jan de Nul NV, Belgium.

Kap Shui Mun Bridge contract signed

Another major contract under the airport core programme (ACP) has been signed. It's a HK$1.64 billion (US$212 million) contract for the design and construction of the Kap Shui Mun Bridge and Ma Wan Viaduct on the Lantau fixed crossing. The successful tenderer is a joint venture comprising Kumagai Gumi (HK) and three companies from Japan - Maeda Corporation, Yokogawa Bridge Corporation and Hitachi Zosen Corporation. The Kap Shui Mun Bridge will be the world's longest cable stayed span carrying both road and rail traffic. Government decides to sell OTB

The government has confirmed its decision to proceed with the disposal of its interest in the Overseas Trust Bank Ltd (OTB). The decision was made after taking into account the advice of Jardine Fleming Securities Ltd. The sale will be to a single party or a consortium. A selection process to determine the ultimate buyer of OTB will begin shortly. The 48-branch OTB was taken over by the government in 1985. In October, it announced a 75 per cent surge in net profit to more than HK$350 million (US$45 million) for the year ended June.

World International's interim profit surge

World International (Holdings) has reported a 25.1 per cent rise in interim profits to HK$583.7 million (US$75.8 million) in the six months to September this year. Turnover jumped 20.5 per cent to HK$1 billion (US$129 million). Earnings per share were 28.5 HK cents (3.7 US cents) and the group will pay an interim dividend of 7.5 HK cents (0.97 US cents) a share.

Lane Crawford's profit up 21%

Lane Crawford has reported a 20.91 per cent rise in after-tax profits to HK$45.1 million (US$5.85 million) for the six months to the end of September. Earnings per share were 39.9 HK cents (5.18 US cents) for the A shares and four HK cents (0.51 cents) for the B shares. The board has declared an interim dividend of 22 HK cents (2.8 US cents) per A share and 2.2 HK cents (0.28 US cents) per B share.

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