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2003-10-2 11:02:00 a.m. HKT, XFNA
STOCK ALERT - Tian Teck and Associated International higher on planned sale
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HONG KONG (AFX-ASIA) - Tian Teck Land Ltd (266.HK) and 50.01 pct owned
unit Associated International Hotels Ltd (105.HK) were higher in early trade,
after announcing plans to put their hotel and retail assets on the market,
dealers said.
Tian Teck was up 0.205 or 11.26 pct at 2.025 hkd and Associated
International up 0.65 or 15.12 pct at 4.95.
""Investors sees as positive the companies' plan to sell their assets at
this time when there seems to be strong demand for property assets,"" a dealer
from a local brokerage said.
The companies plan to sell Hyatt Regency Hong Kong in Tsim Sha Tsui,
Kowloon and the retail premises owned by Associated International in the
shopping arcade where Hyatt stands.
leonora.walet@afxasia.com
lw/mh
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