PRESS DIGEST - Hong Kong - Jan 30
HONG KONG Jan 30 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.
SOUTH CHINA MORNING POST
-- Zurich-based Credit Suisse has been seeking to sublet part of its office at the International Commerce Centre in West Kowloon as financial institutions cut costs amid what has been a challenging operating environment since last year. (link.reuters.com/paz55t)
-- The Civil Aviation Department has allowed Hong Kong Airlines to expand its fleet to 22 aircraft from 20 after an improvement to its on-time performance. (link.reuters.com/qaz55t)
HONG KONG ECONOMIC JOURNAL
-- The retail tranche of watchmaker Time Watch Investments' initial public offering has been oversubscribed by 649 times, locking up funds more than HK$52.6 billion ($6.78 billion), according to market sources.
-- Guotai Junan International said in a report that 22 B-share firms spanning real estate, home appliance, food and beverage, jewellery, machinery manufacturer, construction and tourism sectors are the most eligible for H-share conversions, as long as firms have a minimum market capitalisation of 1 billion yuan. (link.reuters.com/raz55t)
SING TAO DAILY
-- PCCW Global, an operating division of HKT Trust , has tied up with Vietnam Posts and Telecommunications Group (VNPT), Vietnam's foremost full service telecommunications service provider, to explore business opportunities in Southeast Asia and beyond.
-- Shirble Department Store Holdings (China) Ltd, whose shares have been suspended for 10 months since March, reported a net loss of 13.8 million yuan ($2.22 million) for the first half of last year.
WEN WEI PO
-- Cosmetics group L'Occitane International S.A. reported net sales of 801.3 million euro ($1.08 billion) for the nine months ended December, an increase of 17.6 percent from a year earlier.
For Chinese newspapers, see............... ($1 = 7.7585 Hong Kong dollars) ($1 = 6.2243 Chinese yuan) ($1 = 0.7420 euros)
(Reporting by Twinnie Siu; Editing by Subhranshu Sahu)