News Stories:

Click-on these handy "jump links" to quickly access the news item
you're looking for.

1. New York has first case of plague in a century

2. Wharf's giant Ferris wheel proposal approved for TST

3. Lai Sun Development losses widen

1. New York has first case of plague in a century
REUTERS in New York, SCMP 9 November 2002

Two people visiting New York from New Mexico are being treated with symptoms of bubonic plague, the first likely cases of the deadly bacterial disease in the city in more than 100 years.

Health officials said a 53-year-old man had tested "presumptively positive" for bubonic plague and his 47-year-old wife had similar symptoms, but test results were not yet known.

The man is in isolation and is in critical condition, said Mike Quane, of the Beth Israel Medical Centre in Manhattan.

The woman's condition has been upgraded to good from stable. "She has been taken out of isolation," Mr Quane said. "She is responding to the antibiotics."

The city health department said bubonic plague, which has largely been eradicated but does occur in the rural southwest of the country in states such as New Mexico, is not spread from person to person and there is no risk to New York's population of eight million, the largest city in the United States.

Bernadette Burden, of the US Centres for Disease Control, said it was investigating with the New Mexico health department the area where the couple live.

"They live in an area endemic for plague and all epidemiological evidence indicates that the source of the infection [is] rodent fleas in or near their home," Ms Burden said.

If detected early, bubonic plague can be treated with a 10-day course of antibiotics, but about 10 per cent of patients die.

Bubonic plague is a bacterial disease of rodents transmitted to humans through the bites of infected fleas. Pneumonic plague, a more serious form of the disease, occurs when plague bacteria are inhaled after direct contact with infected animals including rodents, wildlife and pets.

In the 14th century, a combination of bubonic plague and pneumonic plague killed millions in Europe in what was known as the Black Death.

"We are announcing what are likely to be the first cases of bubonic plague in New York City in more than 100 years," city Health Commissioner Thomas Frieden said. "There is no risk to New Yorkers . . . There is a lot of plague in New Mexico from year to year."

2. Wharf's giant Ferris wheel proposal approved for TST
KENNETH KO, SCMP 9 November 2002

Wharf (Holdings)' plan to build a 75-metre-high Ferris wheel on its Ocean Terminal extension in Tsim Sha Tsui finally got off the ground yesterday when the Town Planning Board granted approval.

Assistant director Ricky Wong Kwong-yiu said the project, incorporating a 100,000 square foot retail extension at Ocean Terminal, would cost HK$500 million to HK$600 million. He expected the project to strengthen Ocean Terminal as a tourist and shopping spot.

Mr Wong said Wharf had appointed a Japanese consultant to advise on the project and the Ferris wheel's design was being reviewed.

"There are many Ferris wheels all over the world. We strive to come up with a Ferris wheel with its own characteristics for Hong Kong," he said.

Wharf will submit a building plan to the Buildings Department soon.

The proposed Ferris wheel will have 52 capsules, which are expected to carry six to eight persons each at a time.

The wheel will be supported by ancillary facilities such as car parking and spaces for shopping, theme restaurants and souvenir shops.

Analysts said the Ferris wheel would become a tourist attraction and increase traffic to shops at Ocean Terminal.

The aged shopping centre at Ocean Terminal is undergoing a major facelift and part of the space will be revamped as a Lifestyle Concept X megastore aimed at younger customers.

An application to redevelop the former Mariner's Club site in Tsim Sha Tsui into a residential-retail project was also approved by the Town Planning Board yesterday.

Swire Properties had secured the redevelopment rights on the 28,900 square foot site.

Under the plan, the site will be turned into two residential towers of 42 storeys and 43 storeys on an eight-level podium. The project will provide 361 to 461 flats, or 260,600 square feet of residential space, and about 16,000 square feet of retail space, with a 10,000 square foot private club.

The maximum developable floor area will be about 287,000 square feet, assuming the developer can secure a bonus plot ratio of 1.5 times from the Buildings Department for setting back development on the site area.

Meanwhile, developers of the International Finance Centre (IFC) complex above Hong Kong Station in Central applied for permission to cancel a planned footbridge connection included in the development.

The planning board rejected the application, saying the footbridge connecting to the Two IFC complex was necessary for the convenience of users.

The development consortium is led by Sun Hung Kai Properties, Henderson Land Development and Mass Transit Railway Corp.

3. Lai Sun Development losses widen
KENNETH KO, SCMP 9 November 2002

Lai Sun Development's losses grew to HK$1.94 billion for the year ended July 31 from the previous year's HK$1.19 billion.

The loss mainly arose from disposals of subsidiaries and associates, compounded by impairment provisions for property development, unlisted investments, associates and related goodwill.

The company's finance cost was HK$567.74 million, compared with HK$638.48 million previously. Loss per share increased to 52 HK cents from 32 HK cents a year ago.

Parent company Lai Sun Garment (International) reported a loss of HK$1.2 billion, compared with a HK$629.43 million loss previously. Loss per share was 83 HK cents, against 44 HK cents a year earlier.

Lai Sun Development had consolidated net current liabilities of HK$6.19 billion and consolidated net assets of HK$766 million at the balance-sheet date. The net current liabilities included the outstanding balance worth HK$740 million of US$115 million exchangeable bonds, the outstanding balance worth HK$965 million of US$150 million convertible guaranteed bonds, a HK$1.5 billion debt owed to associate eSun Holdings and borrowings of HK$2.44 billion.

China property arm Lai Fung Holdings had a HK$93.97 million loss for the year, compared with a HK$164.61 million loss previously.