PRESS DIGEST - Hong Kong - May 22

HONG KONG, May 22 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

MING PAO DAILY NEWS

-- Li Ka-shing, chairman of Cheung Kong Holdings (0001.HK) and Hutchison Whampoa (0013.HK), said privatisation for listed companies had become difficult and the best solution may be to shut down the business if a privatisation plan failed. He added that he had no details on his son Richard Li's failed privatisation plan for telecom company PCCW (0008.HK).

SING TAO DAILY

-- Credit card write-offs in Hong Kong totalled HK$727 million in the first three months of 2009, up 24 percent compared with the previous quarter. The amount has increased for two consecutive quarters.

HONG KONG ECONOMIC TIMES

-- A Hong Kong Exchange and Clearing (0388.HK) board meeting approved the appointment of Charles Li, head of JPMorgan (JPM.N) in China, to replace Paul Chow as chief executive officer, and was awaiting final approval from the Securities and Futures Commission, according to sources. SOUTH CHINA MORNING POST

-- Hong Kong Monetary Authority chief executive Joseph Yam on Thursday said he did not foresee a recovery in the global economy in the short term and warned of possible risks for investors in Hong Kong as recent stock market gains were out of step with economic fundamentals.

HONG KONG ECONOMIC JOURNAL

-- Chinese property developer Guangzhou R&F (2777.HK) bought a piece of land in Beijing in an auction for 1.02 billion yuan ($149.5 million), according to a company official.

SING PAO

-- Hutchison Whampoa (0013.HK) chairman Li Ka-shing said the company would consider a public listing in Shanghai. He said it was more convenient to allocate funds that way and the best format to list will be considered.

WEN WEI PO

-- The Hong Kong government said a three-member panel was entering the final stage of selecting a successor to take over from Joseph Yam when he retires in October as chief executive of the Hong Kong Monetary Authority. The panel members are Li & Fung (0494.HK) Chairman Victor Fung, Executive Councillor Marvin Cheung and former HSBC (0005.HK) group chairman Sir John Bond.

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