PRESS DIGEST - Hong Kong - Aug 18

HONG KONG Aug 18 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy. SOUTH CHINA MORNING POST

-- The Securities and Futures Commission posted a 15.12 percent year-on-year drop in its surplus in the quarter to June to HK$295.14 million on a drop in trading levies paid by investors on share transactions, and a decline in licence fees and charges collected

-- Yinmore Sugar Industry has revived a plan to seek a Hong Kong listing taking advantage of soaring sugar prices, according to chairman Li Jinquan. The biggest sugar producer in Yunnan province planned to raise HK$600 million in a Hong Kong listing last year, but shelved the plan as the market collapsed in the global downturn.

HONG KONG ECONOMIC TIMES

-- Tracking Henderson Land's (0012.HK) move of revising up a flat sale price last week, Sino Land (0083.HK) is also seen raising its apartment prices by about 3 percent as appetites for residential property remain strong, according to industry sources.

MING PAO

-- Sino Union Petroleum & Chemical (0346.HK) said it had hired Nomura International (Hong Kong) as the sole financial adviser and placing agent for raising at least HK$2 billion through a private placement of shares and convertible bonds to fund the development of its coal mining business, exploration and operation of oilfields, and its petrol station business in Madagascar.

APPLE DAILY

-- Anta Sports (2020.HK) has lifted its expansion target to open 6,400 stores in 2009, from its previous goal of 6,200 stores, reflecting a vote of confidence in China's consumer market, according to chief operating officier Lai Shixian. Spending on advertising will increase to account for 14 percent of sales revenue for 2009, up from 11.2 percent in the first half.

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