Hong Kong's Central district, said yesterday recovering commercial rents in the region helped contribute to a 28 percent rise in full year operating profit.

Bermuda-registered HK Land, part of the Jardine Matheson Holdings financial services group, reported operating profit of $408 million for the year ending December 2000, up from $319 million in the previous year. The full year dividend remained unchanged at nine US cents.

"Although the pace of recovery in rents in Hong Kong's Central district has moderated, the lack of new supply of Grade A (top quality) space over the year ahead will continue to set a positive tone to the market,'' HK Land added in a statement.

Chairman Simon Keswick said the company planned to focus on its portfolio in Hong Kong's Central district and on expanding its infrastructure portfolio.

TYCOM HIKES CAPACITY BUC TyCom hikes capacity Bermuda-based TyCom Ltd. announced that the transatlantic portion of the TyCom Global Network, scheduled to be placed in service in July 2001, will have its capacity increased.

The company said this move was being made sooner than planned to meet demand for larger bandwidth increments, including wavelengths.

The upgrade to 560 gigabits per second, which will double initial capacity, will be in place by the first half of 2002, nearly one year ahead of schedule.

The company also announced that all aspects of the global network build out are on or ahead of schedule, including cable system deployment, colocation and cable station facility construction and fit-out, and all associated permits and licences.

ACE DECLARES DIVIDEND BUC ACE declares dividend On Friday, the board of Directors of ACE Limited declared a quarterly dividend of 13 cents per ordinary share. This is payable on April 13, 2001 to shareholders of record at the close of business on March 30, 2001.