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Gold/Mining/Energy : ATNA ( v.atn t.atn) -- Ignore unavailable to you. Want to Upgrade?

To: Blake who wrote (318)	8/11/1998 12:15:00 AM
From: phoenix_investor	Respond to of 509

An interesting comment on future retail gold demand is included in a PR from Lukfook, a leading Hong Kong jewellery retailer released today. PROSPECTS Hong Kong As the slack economy continues, the Group's first priority is to survive in business. But to survive better and prepare for the economic recovery, the Group will continue to further expand the market share through our extensive and effective promotion campaigns together with proven cost control measures and management supervision system. We aim at maximizing sales per square feet for existing sales floor. Therefore, we will streamline our operations and consolidate our existing 14 retail shops. From July 1998, the quota for tourists from the PRC to Hong Kong has been increased by 30 per cent. Most of the PRC Chinese hold a traditional view on gold as a durable and valuable product. They frequently purchase gold-related products when they pay visit to Hong Kong because of superior product design and reliable reputation of Hong Kong gold jewellery retailers. Consequently, we expect their demand for gold jewellery will grow steadily in future. The PRC The gold jewellery market in the PRC is still in an infant stage and has not yet opened to foreign investors. According to The Chinese Gold & Silver Exchange Society of Hong Kong, an average of 6,000 residents share one gold jewellery shop in Hong Kong whereas about 150,000 residents share one gold jewellery shop in the PRC. Hence great opportunities are available to gold jewellery retailers once the PRC opens its gold market. With the trademark registered in the PRC, the Group accelerates its preparation for entering the gold jewellery market there by means of increasing brandname exposure. The PR was accessed from irasia.com