PRESS DIGEST - Hong Kong - Jan 10
Jan 10 (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
-- Two residential sites, in Sai Kung and Sha Tin, were sold for a total of more than HK$2.9 billion ($374.09 million), roughly in line with market expectations. (link.reuters.com/zaj25t)
-- Developer Shui On Land Ltd unveiled a major restructuring plan to inject its commercial portfolio, valued up to 68 billion yuan ($10.92 billion), into its listing candidate China Xintiandi, in an attempt to boost investors' confidence. Xintiandi, a wholly owned subsidiary, will start operations on March 1. (link.reuters.com/bej25t)
HONG KONG ECONOMIC TIMES
-- Chinese developer Glorious Property Holdings Ltd said contract sales for 2012 totalled 10.9 billion yuan, about 84 percent of the full-year sales target.
SING TAO DAILY
-- Property developer Sino Land Co Ltd has successfully bid for a residential site in Sai Kung, with a gross floor area of 249,133 sq ft, for HK$1.46 billion, in line with market estimates.
-- Department-store operator Lifestyle International Holdings Ltd aims a separate listing of its property investment and development businesses in the second quarter of this year, raising not more than $100 million, sources said.
TA KUNG PAO
-- Peak Reinsurance, which has initial capital of $550 million and is funded by Fosun International Ltd and the International Finance Corp, plans to focus on the Asia-Pacific market, specializing in property and casualty treaty insurance.
For Chinese newspapers, see............... ($1 = 7.7520 Hong Kong dollars) ($1 = 6.2262 Chinese yuan) (Reporting by Twinnie Siu in Hong Kong; Editing by Anand Basu)