PRESS DIGEST - Hong Kong - Jan 11
HONG KONG |
HONG KONG Jan 11 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Friday. Reuters has not verified these stories and does not vouch for their accuracy.
SOUTH CHINA MORNING POST
-- Billionaire Li Ka-shing, chairman of Cheung Kong (Holdings) and Hutchison Whampoa Ltd, still remains Hong Kong's richest person thanks mainly to a property boom that helped boost his personal wealth last year to $30 billion, according to Forbes magazine. (link.reuters.com/zyp25t)
-- Mainland e-commerce giant Alibaba is going in for a major restructuring to pursue its business with focus by splitting the company into 25 units, each led by a general manager, Chief Executive Jack Ma told the staff in an internal e-mail. (link.reuters.com/caq25t)
HONG KONG ECONOMIC JOURNAL
-- Chow Tai Fook Jewellery Group Ltd said same store sales fell as much as 11 percent on the mainland in the third quarter of the financial year. The jeweller expects the mainland market to remain weak in the next few months.
HONG KONG ECONOMIC TIMES
-- Cosmetics retailer Sa Sa International Holdings Ltd said its turnover jumped 18.9 percent in the third quarter ended December to HK$2.19 billion ($282.53 million). It remains cautiously optimistic about the outlook of the retail sector for the fourth quarter due to forthcoming Chinese New Year.
-- Home prices at the 50 major estates in the territory soared 22 percent last year, according to Ricacorp, which forecasts that prices will gain 10 percent this year despite the latest cooling measures adopted by the government. (link.reuters.com/gaq25t)
MING PAO DAILY NEWS
-- State-owned Beijing Automotive Industry Holding Co. has shortlisted Goldman Sachs and Morgan Stanley for a $1 billion initial public offering of its motor vehicle business at the earliest this year in Hong Kong, market sources said.
For Chinese newspapers, see............... ($1 = 7.7514 Hong Kong dollars) (Reporting by Twinnie Siu; Editing by Jijo Jacob)
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