PRESS DIGEST - Hong Kong - June 9
HONG KONG, June 9 (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. HONG KONG ECONOMIC JOURNAL
-- China Metal Recycling (0773.HK), China's largest scrap metal recycling company, plans to sell 300 million new shares at HK$3.98-HK$5.18 each in its Hong Kong IPO, to raise up to HK$1.55 billion (US$199 million) for the expansion of its mainland facility, according to sources.
Hong Kong furniture maker Hing Lee (0396.HK) plans to sell HK$45.9 million worth of new shares in an IPO.
SOUTH CHINA MORNING POST
-- Singapore's Minister Mentor Lee Kuan Yew revived hopes for a tie-up between Singapore Airlines (SIAL.SI) and China Eastern Airlines (0670.HK) (600115.SS) and said the loss-making Chinese carrier could reinvent itself after learning from Singapore Airlines.
-- Shimao Property (0813.HK) paid 3.02 billion yuan ($441.7 million) for a residential site in Xiamen at a government auction on Monday.
HONG KONG ECONOMIC TIMES
-- China Resources Power (0836.HK) plans to invest up to 2.7 billion yuan to boost its wind-power generating capacity, and will build up to six wind farms with a total generating capacity of 300 megawatts, according to chief financial officer Wang Xiaobin.
APPLE DAILY
-- Twenty-four people were injured when a bottle of acid was thrown down onto a street in Mongkok on Monday night in the third attack of its kind. The number of injuries in the three attack totals almost 100.
MING PAO
-- ICBC (Asia) (0349.HK) is considered the favourite bidder for AIG's credit card business, according to sources. AIG Finance is a mid-size credit card issuer with about 500,000 to 600,000 credit cards issued in Hong Kong.
TA KUNG PAO
-- Hang Seng Bank (0011.HK) revised its forecast for Hong Kong's exports downwards to a decline of 12 percent this year, from a previously projected 7.5 percent fall. It also lowered its outlook for economic growth to a 5 percent decline, from a 3 percent drop.
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