PRESS DIGEST - Hong Kong - July 12
HONG KONG, July 12
HONG KONG, July 12 (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
-- China Railway Construction Corp is carrying out a technical feasibility study of the Nicaraguan inter-oceanic canal project, which, if built, would be the world's largest civil engineering project and is estimated to cost $40 billion to build. (link.reuters.com/rax59t)
-- The University of Chicago Booth School of Business, a top American business school, is set to relocate its Singapore campus to Hong Kong next year after the government offered it a 17,000 sq ft heritage building on Mount Davis for a one-off premium of just HK$1,000 ($130). (link.reuters.com/sax59t)
-- Standard Chartered Hong Kong and Shenzhen International Holdings Ltd, a operator of logistics facilities and toll roads on the mainland, signed a one-year Shenzhen's Qianhai cross-border bilateral loan agreement worth 100 million yuan ($16.30 million). (link.reuters.com/tax59t)
HONG KONG ECONOMIC JOURNAL
-- Cosmetic retailer Sa Sa International Holdings said revenue rose 20 percent to HK$1.9 billion in the April- June period from a year earlier due to rising demand from short-haul mainland tourists.
-- The Securities and Futures Commission (SFC) has sought confirmation from the Market Misconduct Tribunal that U.S. hedge fund Tiger Asia committed insider trading. The fund faced litigation spanning five years, and the SFC froze HK$38.5 million of its local assets. (link.reuters.com/vax59t)
SING TAO DAILY
-- China's footwear retailer Belle International Holdings Ltd said its footwear business recorded a 0.5 percent same-store sales growth during March to June and 2.5 percent growth for the sportswear business.
-- China Railway Construction Real Estate Group, the property unit of China Railway Construction Corporation , broke this year's land auction record in Chengdu by acquiring a plot for 2.15 billion yuan.
-- Forgame Tech Co, a cloud-gaming company in China, has submitted its listing application to the Hong Kong bourse, planning to raise $100 million in the initial public offering, according to market sources.
WEN WEI PO
-- China Overseas Land & Investment Ltd has acquired two sites in Shanghai and Hefei, Anhui province for a total of 5.71 billion yuan.
TA KUNG PAO
-- Mainland fashion retailer Daphne International Holdings said same-store sales growth of core brands during the first half fell 9.2 percent from a year-ago period due to weak consumer sentiment and poor weather condition.
For Chinese newspapers, see............... ($1 = 7.7566 Hong Kong dollars) ($1 = 6.1352 Chinese yuan) (Reporting by Twinnie Siu; Editing by Supriya Kurane)
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