China Prosperity Big Moves in Mainland
Feb 10,2000 - 18:34:23 HKT
China Prosperity Holdings (Hong Kong) (0979) announced a series of
mainland projects today. First is a co-operation with the Sichuan
Broadcasting Office in which China Prosperity will assist the Office in
transforming the current cable TV network into a broadband network. The
investment for the project will be approximately HK$400 million.
Another project is the signing of agreement with Harbin Century Information
Network Limited. The two partners will join hands to develop a multi-media
broadband transmission network. Total investment will be around US$29
million in which China Prosperity will account for 49 per cent with the rest
going to Harbin Century.
In addition, the company will set up a joint venture with the Provincial
Broadcasting Information Network Centre in Fujian. With an investment of
400 million yuan, a broadband cable TV network will be developed.
Apart from the above, China Prosperity revealed that it will take over the
remaining 50 per cent of Solar Touch Limited, a company in which China
Prosperity acquired a 50 per cent stake recently, for HK$80 million.