CHEUNG KONG CHAIRMAN SEES STRONG RESULTS IN 1987

  Cheung Kong (Holdings) Ltd &lt;CKGH.HK>
  is expecting strong results this year after reporting better
  than expected profits in 1986, chairman Li Ka-shing said.
      He did not give a specific earnings projection but he told
  reporters the firm will pay total dividends of not less than 19
  cents a share this year after a one-for-four bonus issue and a
  four-for-one stock split.
      The company earlier declared total dividends equal to 15
  cents a share for 1986, adjusting for the stock split and bonus
  issue.
      Cheung Kong's earnings rose to 1.28 billion H.K. Dlrs in
  1986, well above market expectations of 920 mln to one billion
  dlrs. They compared with profits of 551.7 mln dlrs in 1985.
      Cheung Kong also reported extraordinary gains of 983.6 mln
  dlrs mainly from the firm's sale of the Hong Kong Hilton Hotel
  to Hongkong Electric Holdings Ltd &lt;HKEH.HK> for one billion
  dlrs. It had gains of 81.3 mln dlrs in 1985.
      Li attributed the surge in 1986 earnings to a buoyant local
  property market and substantial increases in contributions from
  associated companies.
      "Looking ahead, 1987 should be another year of stability for
  the property market," Li said. "The growth in (Hong Kong's)
  exports is expected to stimulate the demand for industrial
  buildings."
      Cheung Kong is cash rich and is looking for new projects in
  the British colony, Li said, noting the firm is interested in a
  land reclamation project along the Hong Kong harbour and is
  exchanging views with the government on a proposal to build a
  second airport.
  

