PRESS DIGEST - Hong Kong - Sept 29
HONG KONG, Sept 29
HONG KONG, Sept 29 (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
-- China Petroleum & Chemical Corp (Sinopec) said it would spend billions of yuan to expand and build new facilities, including a 53 billion yuan ($7.8 billion) joint venture with Kuwait Petroleum Corp to develop an integrated refinery in Guangdong.
-- Canadian International School principal Alan Dick, 55, came down with the H1N1 flu and died on Sunday. Doctors diagnosed Dick with severe pneumonia and he tested positive for the virus.
-- China National Building Materials Group (3323.HK) is interested in buying a 51 percent stake in the parent company of Chinese cement producer Anhui Conch (0914.HK), market sources said. The other possible buyer could be China National Materials Co Ltd (1893.HK), they said.
TA KUNG PAO
-- Five Chinese property companies will have their Hong Kong IPO hearings on Tuesday to raise a total of HK$30 billion ($3.9 billion), market sources said. But Peak Sport Products (1968.HK) is expected to open lower in its trading debut after its stock fell below its IPO price in the grey market.
WEN WEI PO
-- MTR Corp Ltd (0066.HK) and Beijing's No. 4 subway line started operations on Tuesday. MTR will operate the line for 30 years and the venture is expected to be profitable in 3 years, the joint company said.
HONG KONG ECONOMIC TIMES
-- HSBC (0005.HK) has appointed Mark McCombe, its global chief executive of global asset management, as Hong Kong chief executive, effective February next year, an internal circular said.
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