PRESS DIGEST -Hong Kong - Oct 21
HONG KONG Oct 21 (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
-- Tens of thousands of protesters in black T-shirts marched to the government headquarters in Admiralty on Sunday, claiming that the decision to deny Hong Kong Television Networks a free-to-air TV licence was a threat to the city's core values. (link.reuters.com/zad93v)
-- The 185 flats offered at The Austin, a residential project above an MTR station co-developed by New World and Wheelock Properties, attracted more than 600 registrations from interested buyers over the weekend, market sources said. Buoyed by the increasing appetite for luxury property in the city, the developers raised the prices of a further 70 units at The Austin by 5.6 percent to an average of HK$24,149 ($3,100) per sq ft. (link.reuters.com/bed93v)
-- Hong Kong and China Gas, known as Towngas, will spin off its Hong Kong gas distribution business into a separate listed company when the time is ripe, according to Chief Executive Officer Peter Wong Wai-yee. Wong's comments followed an announcement by Li Ka-shing-controlled utility Power Asset Holdings last month that it will spin-off its local electricity distributor, Hong Kong Electric. (link.reuters.com/xad93v)
-- Hutchison Whampoa's shares are expected to decline after the company scrapped the sale of ParknShop. The conglomerate may now spin off its health and beauty concern - AS Watson Group - which also includes the supermarket chain. (link.reuters.com/ced93v)
-- A subsidiary of Shanghai Fosun Pharmaceutical will sell the makings for medications for treating cancer and diabetes to Swiss firm Sellas Clinicals Holding for 388 million euros ($531.38 million). The global rights to two chemical compounds are held by the company's Chongqing subsidiary. The cancer compound is for treating lung and breast tumors among others. (link.reuters.com/ded93v)
-- Shanghai-based developer Jingrui Holdings opens its retail book on Monday, hoping to raise up to HK$1.72 billion ($221.84 million) through an initial public offering in Hong Kong. Shares are being offered at HK$4.20 to HK$5.48 apiece. (link.reuters.com/fed93v)
HONG KONG ECONOMIC JOURNAL
-- Chinese property developer Sunac China Holdings Ltd saw contracted sales for the first three quarters amounting to 30 billion yuan ($4.92 billion) and expected the full-year contracted sales to reach 50 billion yuan, surpassing its annual target by 11 percent, according to chairman Sun Hongbin.
HONG KONG ECONOMIC TIMES
-- The Chinese authority has granted approvals to Hang Seng Bank's unit Hang Seng Bank (China) and a subsidiary of BOC Hong Kong (Holdings) to open their branches in Shanghai free-trade zone.
For Chinese newspapers, see............... ($1 = 7.7535 Hong Kong dollars) ($1 = 6.0968 Chinese yuan) (Reporting by Donny Kwok; Editing by Subhranshu Sahu)