PRESS DIGEST - Hong Kong - Aug 14
HONG KONG Aug 14 (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
-- Honour Finance, a financial company owned by Sun Hung Kai Properties Ltd, is suing scandal-plagued former chief secretary Rafael Hui for HK$3.16 million ($407,500) over a loan default in the latest twist to one of the biggest corruption cases in Hong Kong. (link.reuters.com/hug42v)
-- Hong Kong Aircraft Engineering Company, Swire Pacific's aircraft maintenance subsidiary, said its business would continue to be hurt by labour shortage in Hong Kong that drove down its net profit by 21 percent year-on-year in the first half. It was seeking government support to import qualified engineers and mechanics to ease constraints on the supply of skilled workers in the city, said Chairman Christopher Pratt. (link.reuters.com/jug42v)
-- International real estate agencies, such as Germany-based Engel & Voelkers, continue to expand in Hong Kong even as their local counterparts warn they may have to shut offices and lay off staff due to falling home sales. (link.reuters.com/kug42v)
HONG KONG ECONOMIC TIMES
-- Peak Sport Products Co Ltd Chief Executive Xu Zhihua said the company's inventory was nearing optimum levels and it would no longer need to give discounts. Hu also expected profit margins to rebound in the second half.
-- Wheelock and Co Ltd is confident of achieving its full-year sales target, said Vice Chairman Stewart Leung, adding the company will focus on launching three residential projects in the second half.
-- Guangzhou-based KWG Property Holding Ltd Chairman Kong Jianmin said he believes the Chinese government will not impose any measures to suppress property prices in the second half, except to expand the property tax pilot scheme. (link.reuters.com/nug42v)
-- Casual wear retailer Giordano International Ltd Chairman Peter Lau said the firm's repositioning in China has been done with the aim of raising prices by 20-30 percent over the next 2 to 3 years. (link.reuters.com/pug42v)
For Chinese newspapers, see............... ($1 = 7.7555 Hong Kong dollars)
(Reporting by Twinnie Siu; Editing by Prateek Chatterjee)
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