PRESS DIGEST - Hong Kong - April 22

HONG KONG, April 22 (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 TIMES

-- A human resource survey has found that 88 percent of employees received a pay rise this year and the average increase was more than 4 percent. The average bonus issued by companies was equal to 1.42 months' pay, slightly below last year's level.

APPLE DAILY

-- Insurer L&G of the UK increased its stake in HSBC Holdings (0005.HK) (HSBA.L) to 5 percent last week, according to disclosure documents. The company is now the second-largest stakeholder in the banking giant.

-- Mainland developer Shimao Property Holdings Ltd (0813.HK) reported an 80 percent on year growth in net profit to 4.09 billion for 2007. The company has revealed it plans to spin off its hotel unit for a separate public listing next year.

MING PAO DAILY NEWS

-- Reports say only two banks -- ICBC Asia and ANZ -- are left in the running for the 53.2 percent stake sale by local lender Wing Lung Bank 0096.HK after Bank of Communications (3328.HK) (601328.SS) dropped out. They will make the final bid at the end of April.

SING TAO DAILY

-- The government could influence Thursday's board of directors' election of HKEx (0388.HK) as a 5.88 percent owner. Some say the government should give up voting so as to maintain the board's independence.

SOUTH CHINA MORNING POST

-- The Hong Kong stock exchange will proceed with a controversial plan to make companies report earnings every three months instead of twice a year. A source said the plan would be in two steps to bring in place the quarterly reporting requirement by 2011.

THE STANDARD

-- The president of the Hong Kong Small and Medium Enterprises Association has been declared bankrupt over an application by a Taiwan company for an outstanding sum of more than HK$1 million which he failed to repay. High Court judge Aarif Barma allowed with immediate effect the bankruptcy petition launched by Tai-I Copper (Guangzhou) against Simon Shi.

TA KUNG PAO

-- Hong Kong's total exports of household goods surpassed the US$26 billion market last year, according to the government. A four-day household item exhibition opened yesterday with 2,400 stalls by sellers from 38 regions.

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