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Hong Kong Aircraft Engineering Co. Ltd. (HAECO) confirmed today that it has signed agreements for the sale of all twelve units it owns in Twin Bay Villas, a residential complex in Clearwater Bay. All transactions are expected to be completed by the end of April 2000. Net sales proceeds will be approximately HK$82 million, and HAECO will reflect a gain on disposal of the same amount in its accounts for the financial year ending 31st December 2000.