December 16, 2013 / 2:25 AM / 4 years ago

PRESS DIGEST - Hong Kong - Dec 16

HONG KONG, Dec 16 (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.

SOUTH CHINA MORNING POST

-- Power Assets, an international utilities firm controlled by Asia's richest man Li Ka-shing, plans to spin off its Hong Kong electricity unit via the establishment of a trust firm that will offer potential investors a 5.5 percent to 7.3 percent annual return in the first year. ()

-- Former financial secretary Antony Leung Kam-chung "stands a chance" of becoming chief executive if he runs in 2017, ex-commerce minister Frederick Ma Si-hang said. ()

THE STANDARD

-- Secondary home market transactions during the weekend hit a three-month low as more new units come on the market, including those at residential development DIVA, the latest Cheung Kong Holdings scheme in Hong Kong's Tin Hau district. ()

-- China will map out city clusters across its central, western and northeastern regions and develop them into engines for growth as part of its urbanization strategy, according to the country's leadership. ()

-- Mainland employees are likely to have an average pay rise of 8.8 percent next year, while those who work for state-owned enterprises may face salary cuts as they are earning 1.9 times more than their peers who work in the private sector, Xinhua News Agency reported. ()

HONG KONG ECONOMIC JOURNAL

-- Chinese property developer Wanda Commerical Properties Group Co Ltd said it planned to issue 856.8 million rights shares in the proportion of three rights shares for every 10 existing shares held at HK$2.88 each, raising HK$2.47 billion ($318.57 million) to fund projects in China and overseas.

-- MicroPort Scientific Corp has agreed to buy Wright Medical Group's OrthoRecon business for $290 million.

MING PAO DAILY NEWS

-- A 39 year old man in China's Dongguan is in critical condition after being diagnosed with H7N9 bird flu strain, according to Guangdong health authorities.

-- Artgo Mining Holdings Ltd aims to raise up to HK$1.16 billion ($149.61 million) in its initial public offering with dealing in the shares set to begin on Dec 30.

For Chinese newspapers, see...............

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