PRESS DIGEST - Hong Kong - Feb 11
HONG KONG Feb 11 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.
SOUTH CHINA MORNING POST
-- Two democratic groups have proposed slapping an arrival tax of HK$20 to HK$100 on non-Hong Kong residents who enter the city by land as a means of curbing the influx of mainland visitors. (link.reuters.com/tyh76v)
-- Hong Kong broker Bright Smart Securities said it plans to spin off an online broadcasting business, hard on the heels of a well-received listing of its sister company Magnum Entertainment . (link.reuters.com/wyh76v)
-- China Metal Resources Utilisation, which manufactures products from recycled copper, aims to raise HK$680 million ($87.66 million) in a Hong Kong initial public offering to fund plant construction and repay loans. (link.reuters.com/xyh76v)
-- The world's largest pork producer, WH Group, formerly Shanghai International Holdings, seeks to raise $5 billion in an initial public offering in Hong Kong in the second quarter. Two mainland lingerie firms are also joining the listing queue. (link.reuters.com/haj76v)
-- Excessive production capacity is a "cancer" for the mainland economy and the property sector would be the first to collapse, the deputy head of a top state-linked think tank has warned. (link.reuters.com/naj76v)
-- Link Real Estate Investment Trust chief executive George Hongchoy Kwok-lung sees opportunities in mid- to high-end shopping malls in the mainland's first and second tier cities. (link.reuters.com/qaj76v)
HONG KONG ECONOMIC JOURNAL
-- Sun Hung Kai Properties has slashed prices by 35 percent for 156 flats at a Yuen Long residential development to an average HK$9,268 per square foot, a price also 10-15 percent below the secondary market price in the district.
-- Macau's gaming revenue is seen at 8.3 billion patacas ($1.04 billion) in the first six days of February, according to market sources. Brokers expect gaming revenue to rise at least 20 percent year on year in February if the momentum continues for the rest of the month.
HONG KONG ECONOMIC TIMES
-- Hong Kong theme park Ocean Park said the number of visitors rose 6 percent year on year to 350,000 during the first 10 days of the Chinese Lunar New Year, of which mainland tourists accounted for 55 percent.
MING PAO DAILY NEWS
-- Hanergy Solar Group Ltd said it would buy thin-film solar photovoltaic equipment distributor Hanergy Solar UK Ltd from its parent as part of its plan to develop overseas markets.
-- China South City Holdings said it would buy a 35 percent stake in logistic center operator Xi'an China South City Co Ltd for 260 million yuan ($42.91 million), a deal to be settled by internal resources.
For Chinese newspapers, see............... ($1 = 7.7573 Hong Kong dollars) ($1 = 6.0593 Chinese yuan) (Reporting by Donny Kwok; Editing by Sunil Nair)