HK Firm To Map Out China Internet Plan

Cheuk Nang Properties (Holdings) Ltd., dwarfed by other Hong Kong property development companies that have launched Internet businesses recently, plans to kick off its high-tech strategy on Monday with its own edge: a U.S. partner.

The company says it is putting together plans for a variety of Internet-related businesses in China and is in discussions to bring in a U.S. company to jointly pursue those ventures.

Cheuk Nang will announce Monday the establishment of a wholly-owned subsidiary, Cheuk Nang Cyber Technology Ltd., that will explore development of Web sites and software businesses in China.

The company said in a statement that its Net plans are not final and would not give more details on Monday's announcement. However, the lure of the potentially massive Mainland China market recently has drawn some major U.S. companies into partnerships with companies based in the region.

Intel Corp. last year stepped up its partnership with Hong Kong conglomerate Pacific Century Group to launch the Pacific Century Cyberworks pan-Asian Internet venture. Last week, Chinese-language portal operator China.com Corp. announced it will join U.S. online retailer TheBigStore.com to create TheBigStore.com Asia. [See "Asian E-Commerce Deals Tap Into Big Market," Jan.

6.]

Cheuk Nang Properties, in Hong Kong, can be reached at +852-2526-7799.

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