PRESS DIGEST - Hong Kong - March 18

HONG KONG, March 18 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.

SOUTH CHINA MORNING POST

-- HSBC Holdings (0005.HK) will use all the proceeds from its future share sale in Shanghai for expansion on the mainland and is ready to list in China, awaiting the mainland regulator's final ruling on a foreign business issuing A shares, said chief executive Michael Geoghegan.

-- Poly Real Estate Group (600048.SS) has won a Beijing site for 5.04 billion yuan ($738.5 million) after heated bidding, 99 percent above the auction's opening price of 2.53 billion yuan.

HONG KONG ECONOMIC TIMES

-- The retail portion of the initial public offering of Huiyin Household Appliance has been over 600 times oversubscribed, locking up HK$32.8 billion ($4.2 billion) in funds, sources said.

SING TAO DAILY

-- Kerry Properties (0683.HK) reported a 44 percent drop in 2009 net profit to HK$4.39 billion ($566 million) due to a significant fair value gain on investment properties. Its contracted sales target this year is HK$9 billion, chief financial officer Louis Wong said.

-- Shangri-La Asia (0069.HK), the hotel arm of Malaysia's Kuok Group, said it plans to add 11 hotels on the mainland, bringing the total number to 50 in three to four years. It forecast capital expenditure this year of up to $475 million.

TA KUNG PAO

-- China State Construction International Holdings' (3311.HK) net profit last year surged 25 percent from 2008 to HK$612 million ($78.9 million). The value of new projects so far this year was at HK$19 billion, up 11 percent from a year earlier period, vice chairman Zhou Yong said.

For Chinese newspapers, see...............[PRESS/CN]

For Taiwan newspapers, see............[PRESS/TW] (Reporting by Twinnie Siu; Editing by Jonathan Hopfner)