PRESS DIGEST - Hong Kong - June 16
HONG KONG, June 16
HONG KONG, June 16 (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
-- With Google bowing to a "right to be forgotten" ruling in Europe, Hong Kong's privacy chief, Allan Chiang Yam-wang, will ask his regional counterparts to join him in pressing the internet search giant to extend the same safeguards to the region. (link.reuters.com/bag22w)
-- Chinese home buyers with bitcoins to spare can now use the virtual currency to snap up London properties. London-based Cai-Capital, formed in October last year, says it is the first broker in the British capital to accept bitcoins for payment on property purchases. (link.reuters.com/fag22w)
-- HSBC, the city's largest bank, which has been aggressively expanding on the mainland, is carefully examining all commodities financing transactions following reports of alleged irregularities at Qingdao Port. (link.reuters.com/rag22w)
-- Basic Law Committee Deputy Director Elsie Leung Oi-sie said the upcoming mock referendum on electoral reforms will not influence Beijing. Leung warned that the Hong Kong government could call on the People's Liberation Army should things get out of hand during proposed action by the Occupy Central civil disobedience movement. (link.reuters.com/mag22w)
-- Mayfair by the Sea I from Sino Land drew 15,000 hopeful home buyers to its show flats at Olympian City at the weekend. Sun Hung Kai Properties notched up the most expensive sale in the New Territories when a 2,895 sq ft house with garden fetched HK$161.8 million ($20.87 million). (link.reuters.com/pag22w)
-- Ten firms will open their retail books this week seeking an aggregate of about HK$12 billion ($1.55 billion) amid a renewed rush of initial public offerings on the local bourse. Three of them will kick off bookbuilding on Monday aiming for a total HK$3 billion. (link.reuters.com/qag22w)
HONG KONG ECONOMIC JOURNAL
-- Franshion Properties (China) Ltd said it planned to seek a separate listing of its hotel business on the Hong Kong stock exchange by way of a trust, issuing 600 million units to raise up to HK$3.39 billion ($437.33 million). A total of 690 units will be issued if an overallotment option is exercised.
HONG KONG ECONOMIC TIMES
-- Department store operator and property investor Wing On Company International Ltd said it expected to record an unaudited pre-tax gain of HK$337 million ($43.48 million) from a sale of a stake in an automotive dealership group in the United States to Lithia Motors Inc.
For Chinese newspapers, see............... ($1 = 7.7515 Hong Kong Dollars) (Reporting by Donny Kwok; Editing by Subhranshu Sahu)
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