PRESS DIGEST - Hong Kong - June 12

June 12 Mon Jun 11, 2012 10:12pm EDT

June 12 (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.


-- Chinese home appliance distributor GOME Electrical is in early talks with an investment firm led by a wealthy entrepreneur from Lebanon, to enter the Middle East market, according to people familiar with the situation.

-- Jetstar Hong Kong, the budget airline set up by China Eastern Airlines and Australia's Jetstar, has sought regulatory approval for a licence to operate air services from Hong Kong, said Liu Shaoyong, chairman of China Eastern Airlines.

-- Beijing-based Postal Savings Bank of China, the nation's seventh-largest lender by assets, said in a statement on Monday that Tao Liming, president of PSBC, along with Chen Hongping, chief of an asset operation division, were assisting investigations into suspected economic crimes.


-- China Mengniu Dairy Co Ltd, the country's top dairy products maker, said it will invest 3.5 billion yuan ($549.5 million) over the next three years to set up 12 self-operated dairies as it races to shed the legacy of tainted milk and rebuild consumer confidence.

-- The Henderson Land chairman Lee Shau-kee expects home prices in the city to be stable this year. "A large influx of new homes is foreseeable in the next six months," he said.


-- Chinese property developer Evergrande Real Estate Group said contract sales in May totalled 10.37 billion yuan, up 33.3 percent from a year earlier, and is the highest monthly sales so far.


-- Yue Yuen Industrial (Holdings) Ltd, the world's largest branded sports shoe manufacturer, said net consolidated operating revenue for the first five months totalled $3 billion.

For Chinese newspapers, see............... ($1 = 6.3694 Chinese yuan) (Reporting by Twinnie Siu; Editing by Anand Basu)