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2003-5-12 12:11:00 p.m. HKT, XFNA
HK's Wai Kee plans to invest 40-80 mln hkd in Zhejiang quarry in 2003
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HONG KONG (AFX-ASIA) - Wai Kee Holdings (610.HK) vice chairman Derek Zen
said the company plans to invest between 40 mln and 80 mln hkd this year in a
joint venture to build a quarry in China's Zhejiang province.
He did not disclose further details.
The company has about 1.2-1.3 bln hkd worth of outstanding contracts to
date, Zen said. Finished contracts totalled 300 mln in the first quarter of
this year.
Hong Kong operations contribute about 20 pct of the company's total sales.
""We are planning to raise the contribution from Hong Kong to about
one-third of the group's sales within the next five years,"" he said.
susanna.tai@afxasia.com
cc/rl/st/mh/skb
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