PRESS DIGEST - Hong Kong - March 30
HONG KONG, March 30 (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.
SING TAO DAILY
-- Homebuyer queues outside developers' sales offices are back in what appeared to be a small rebound in the real estate market. Some 200 new flats were sold over the weekend, plus an increase in secondary market transactions.
SOUTH CHINA MORNING POST
-- The government and the Hong Kong Exchanges and Clearing (0388.HK) are studying plans to reduce the issuing of physical share certificates during an initial public offering by allowing investors to open electronic accounts directly at the bourse's clearing house, according to a senior official at the exchange.
-- Sinofert Holdings (0297.HK), China's largest fertiliser importer and producer, is in talks to buy potassium fertiliser assets in Central Asia, taking advantage of a 60-70 percent decline in the value of international fertilisers amid the financial crisis, in a bid to control more upstream resources and boost profits, according to chief executive Du Keping.
THE STANDARD
-- HSBC Holdings (0005.HK) has no plans to follow up its recent downsizing in the United Kingdom with job cuts in Hong Kong, Asia- Pacific chairman Vincent Cheng said on Sunday.
TA KUNG PAO
-- Chinese Estates (0127.HK) has sold 124 units, or 70 percent of units, of its i-home residential development in Hong Kong over the weekend, according to the developer.
-- Mainland liquor and cigarette distributor Silver Base (0886.HK) said it planned to raise up to HK$1.04 billion in an initial public offering of shares in Hong Kong at a price ranging from HK$2.3 to HK$3.45 per share. Proceeds raised will be used for expansion of distribution networks.
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