PRESS DIGEST - Hong Kong - Oct 27
HONG KONG, Oct 27 (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
-- Financial backers, including King of Morocco Mohammed VI and David Ross, co-founder of Britain's largest mobile telephone retailer Carphone Warehouse, have tried but failed to agree on compensation deal with former Macau legislator David Chow and are now debating their response to the failed stock listing of Chow's Macau Legend, which owned part of the Fisherman's Wharf theme park.
HONG KONG ECONOMIC JOURNAL
-- A government delegation led by Financial Secretary John Tsang is set to meet representatives from major Hong Kong property developers on Tuesday to exchange opinions and concerns about the recent red-hot property market, according to sources. Developers are calling for an overhaul of the land-disposal system amid shortage of supply.
-- Russia's UC Rusal, the world's top aluminium producer, is seen preparing for a hearing on its listing in Hong Kong next month. It aims to raise about US$3 billion in an IPO before the end of the year, sources said.
HONG KONG ECONOMIC TIMES
-- Four listing candidates, aiming to raise a total of about HK$66.7 billion (US$8.6 billion) are joining the competition for Hong Kong listings and will undergo hearings on Thursday, including Chinese coal equipment maker Sany Heavy Equipment, which aims to raise HK$1.56 billion.
MING PAO
-- Chinese cement producer Anhui Conch Cement (0914.HK) posted a 33.2 percent rise in net profit to 938 million yuan ($137.4 million) for the third quarter ended in September, benefiting from a drop in coal prices and lower operation costs.
-- China CITIC Bank (0998.HK) said its third-quarter net income rose 7.5 percent from a year ago period to 4.35 billion yuan, as better net fee income growth helped offset the impact of a squeeze in net interest income.
SING TAO DAILY
-- China Construction Bank's (0939.HK) chairman Guo Shuqing said the financial crisis had not yet settled and the bank would take a cautious approach to global merger and acquisition activities, with little interest in Europe and America.
(Editing by Jonathan Hopfner)
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