HONG KONG Nov 2 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
-- Luxury items by brands such as Chanel, Gucci, Hermes and
Louis Vuitton can now be used as collateral in the personal-loan
market. Upmarket pawn brokerage Yes Lady Finance is providing
loans of up to 70 percent of the value of the item in the
second-hand market and charging borrowers interest as low as 28
percent a year with a three-month maturity.
HONG KONG ECONOMIC JOURNAL
-- R&F Properties (2777.HK) said contracted sales for the
first 10 months of 2009 totalled 20.62 billion yuan ($3.02
billion), up 61 percent from a year earlier, and representing 90
percent of its sales target for the year. In October, contracted
sales jumped 78 percent on year to 2.19 billion yuan.
HONG KONG ECONOMIC TIMES
-- Mainland companies remain eager to tap the local market,
with packaging firm CPMC Holdings and China High Precision
Automation set to kick start IPOs to raise a combined HK$2.28
billion ($294 million).
-- Esprit Holdings Ltd (0330.HK) said Ronald Van der had
officially taken up the post of group chief executive officer on
Nov 1, and former chief Heinz Jurgen Krogner-Kornalik would
remain as executive chairman.
TA KUNG PAO
-- The international placing portion of the Hong Kong initial
public offering of CPMC Holdings Ltd, a packaging unit of COFCO,
is seen five times oversubscribed. CPMC is selling 200 million
shares to raise up to HK$1.08 billion.
SING TAO DAILY
-- Qunxing Paper Holdings (3868.HK) plans to invest 563.5
million yuan ($82.55 million) in a wind farm in Inner Mongolia to
diversify its business from producing decorative base paper,
according to chairman Zhu Yu-guo.
-- West China Cement, the largest cement producer in China's
Shanxi province, has submitted a listing application to Hong
Kong's stock exchange, aiming to raise more than HK$7 billion
($903 million) in 2010, according to sources.
For Chinese newspapers, see...............[PRESS/CN]
For Taiwan newspapers, see............[PRESS/TW]