PRESS DIGEST - Hong Kong - Feb 22

HONG KONG Thu Feb 21, 2013 9:09pm EST

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HONG KONG Feb 22 (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

-- Chen Yuan, the 68-year-old chairman of China Development Bank, will stay in his job at the nation's largest financier of infrastructure projects and overseas investment despite his age and a recent controversy over the lender's role in a major corporate transaction, sources said. Li Ruogu, the 62-year-old chairman of Export-Import Bank of China (Exim Bank), is also set to retain his post.

-- Hong Kong Financial secretary John Tsang will announce in next Wednesday's (February 27) budget that more than HK$10 billion will be injected into the Community Care Fund to finance initiatives to help the underprivileged and alleviate the poverty gap, but the tax rebate is likely to be cut back to below HK$12,000 ($1,500), a source said.

HONG KONG ECONOMIC TIMES

-- Property developer Kaisa Group Holdings Ltd Chairman Kwok Ying Shing said the company has applied for 2-3 projects in Shenzhen's Qianhai and it is now in discussions with the government.

THE STANDARD

-- Hopewell Holdings Ltd managing director Thomas Jefferson Wu said the company was working on spinning off some of its local property assets covering 5.5 million square feet, and the proposed funds raised from the spin-off will be used for the development of Hopewell Center II in Wan Chai.

-- HKT Trust, the telecom arm of PCCW Ltd , has filed an application of leave with the high court against the Communications Authority for its failure to act on the firm's complaint against Apple Inc, which has disabled support for its subscribers using the three Apple products on the local 4G network, with a configuration called SIM-locking.

SING TAO DAILY

-- Mainland property giant China Overseas Land & Investment Ltd Chairman Kong Qingping said he expects the company to achieve double-digit growth in profit and property sales this year, although it does not expect the mainland to relax its price-cooling measures.

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