PRESS DIGEST -Hong Kong - Sept 30
HONG KONG, Sept 30
HONG KONG, Sept 30 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Monday. Reuters has not verified these stories and does not vouch for their accuracy.
SOUTH CHINA MORNING POST
-- Hong Kong developer K Wah International has jumped on the bandwagon of the free-trade zone in Shanghai, hoping its upcoming residential project near the zone may anchor its expansion plans in the mainland's commercial hub. It plans to start construction soon of a residential complex at Jinqiao, which is just a few kilometres from the free-trade zone. ()
-- Tycoon Li Ka-shing has donated US$130 million to a top Israeli science institute, Technion - the Israel Institute of Technology, to help build a campus in his home town in China's Guangdong province in a joint project with Shantou University. It was one of the biggest one-off donations made by the Li Ka Shing Foundation. ()
-- New World Development is set to join the ongoing initial public offering spree by trying for the second time since June to spin off its hotel business. The listing was earlier scrapped due to poor market sentiment. The company said whether the spin-off will eventually proceed is still subject to market sentiment. ()
-- Ajisen China Holdings chief operating officer Joseph Lau Si-sing stepped down just two months into the job after errors in the announcement revealing his appointment were exposed. ()
HONG KONG ECONOMIC JOURNAL
-- Construction firm Ngai Shun Holdings Ltd is to sell 100 million shares in its initial public offering, raising up to HK$109 million, while China Ludao Technology Company Limited aims to raise about HK$68 million in its IPO to be kicked off on Monday.
-- Details of the restructuring program for China's dairy industry, in particular in the area of taxation, are set to be announced in October, benefitting six major players including Sanyuan, Yili and Mengniu, according to a ministry source.
MING PAO DAILY NEWS
-- Five well known fashion brands LVMH, Prada , Coach, Joyce and Moiselle, which operated a total of 105 stores in Hong Kong, spent HK$6.02 billion in rent in the territory last year, twice the amount of the rental expenses of 6 major jewellery groups in the city, according to a report by property agent Midland.
For Chinese newspapers, see...............
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