PRESS DIGEST - Hong Kong - Feb 20
HONG KONG |
HONG KONG Feb 20 (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
-- A residential site near a light-rail stop in Tin Shui Wai should attract both large and small bidders, whose development strategies may have been affected by the introduction of a buyer's stamp duty, according to surveyors. Sixteen developers including Cheung Kong, Sun Hung Kai Properties , Henderson Land Development and mainland developer China Overseas Land & Investment, have signalled interest.
-- China Construction Bank (Asia) expects yuan deposits and loans to make up one third of its total deposits and loans, up from the current 20 percent, said Chief Executive Miranda Kwok.
-- Hong Kong Secretary for Development Paul Chan said after reviewing the government lease and other conditions that he believes Cheung Kong did not violate any regulation by selling individual rooms at The Apex Horizon Hotel in Kwai Chung. But he warned buyers not to convert their units for residential use.
HONG KONG ECONOMIC JOURNAL
-- Sun Hung Kai Properties expects to sell 2,000 new flats in the city this year, its Deputy Managing Director Victor Lui said.
-- Cheung Kong said all 360 rooms at the Apex Horizon Hotel in Kwai Chung have been sold, estimated to generate HK$1.4 billion ($180.54 million).
MING PAO DAILY NEWS
-- Chinese Estates Holdings is to sell shops at its Causeway Place, located at the Great George Street, for HK$70,000 to HK$80,000 per square foot, worth an estimated HK$3 billion.
SING TAO DAILY
-- The Hong Kong and China Gas Co (Towngas) is proposing to raise its tariffs by 4.6 percent from April 1 due to higher operational costs.
-- Ulferts, Emperor Group's furniture retailing unit, may kick off its initial public offering in mid-March to be listed on the Hong Kong stock exchange in April, sources said.
TA KUNG PAO
-- Cosmetics retailer Sa Sa International Holdings Ltd said it recorded a 30 percent year-on-year growth in its retail business in Hong Kong and Macau during the first seven days of Chinese New Year between February 10 and 16. Same-store sales rose 20 percent.
For Chinese newspapers, see............... ($1 = 7.7546 Hong Kong dollars) (Reporting by Twinnie Siu; Editing by Gopakumar Warrier)
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