PRESS DIGEST - Hong Kong - Dec 11

HONG KONG Mon Dec 10, 2012 9:14pm EST

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HONG KONG Dec 11 (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

-- Cheung Kong (Holdings) Ltd and Hutchison Whampoa Ltd sold a combined 30 percent interest in Singapore's Marina Bay Financial Centre Tower 3 for S$1.04 billion ($851.38 million) to DBS Group. ()

-- Bank of America is close to agreeing to lease almost 150,000 square feet of prime office space in Cheung Kong Center, as competition among Central landlords increases. Under the plan, the bank will occupy seven floors in the Center, according to two people familiar with the transaction. ()

-- Charoen Pokphand Group, the Thailand-based food exporter which plans to buy HSBC's stake in the mainland insurance giant Ping An Insurance , will bank on its expertise in rural finance to win Beijing's approval for the deal, people familiar with the situation said. ()

-- Apple Inc has confirmed it will open its third retail store in Hong Kong on Saturday (December 15) at Hysan Place in Causeway Bay. The launch of this new store will be the company's 10th in China. ()

HONG KONG ECONOMIC JOURNAL

-- China Machinery Engineering Corporation, a state-run contractor, plans to raise up to HK$3.88 billion ($500.64 million) in an initial public offering in Hong Kong, each priced between HK$4.10 and HK$5.40. The trading could start on December 21.

THE STANDARD

-- PCCW Ltd expects good growth from its information technology outsourcing business and will not seek a separate listing in the next two years, said group Managing Director George Chan. ()

-- A 708-square-foot apartment at a private housing estate in Tin Shui Wai, Kingswood Villas, was sold for an estate high price of nearly HK$5,000 per square foot, despite the government's latest cooling measures. ()

SING TAO DAILY

-- Sun Hung Kai Properties would launch five residential projects in the city in the coming half year, said Chairman & Managing Director Thomas Kwok.

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