February 20, 2014 / 2:10 AM / 4 years ago

PRESS DIGEST - Hong Kong - Feb 20

HONG KONG, Feb 20 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.

SOUTH CHINA MORNING POST

-- The Chinese Gold & Silver Exchange Society is prepared to spend HK$1 billion ($128.94 million) to set up its metal warehouse in Qianhai, according to President Haywood Cheung Tak-hay. Qianhai is a testing ground for the free flow of yuan and other policies to encourage overseas investment. (link.reuters.com/cyj96v)

-- Fast Retailing, the parent company of Japanese fashion chain store Uniqlo, will consider listing directly in the city if its Hong Kong depositary receipts are well received and the exchange could adapt to paperless trading in the future. (link.reuters.com/hyj96v)

-- Giveaways in next Wednesday's budget could be at least 30 per cent less than the HK$33 billion ($4.26 billion) doled out last year. Hong Kong's Financial Secretary John Tsang is expected to cut the salaries tax rebate and property rate waivers. (link.reuters.com/jyj96v)

THE STANDARD

-- Chinese pork supplier Huisheng International is set to become the second most oversubscribed initial public offering in Hong Kong after nightclub operator Magnum. Huisheng has frozen HK$26.8 billion ($3.46 billion) after the third day of bookbuilding, representing oversubscription by 1,089 times. (link.reuters.com/kyj96v)

-- Sun Hung Kai Properties is in no hurry to raise prices at the Riva residential development even though the first batch of flats released this year got sold within hours, according to deputy managing director Victor Lui. (link.reuters.com/nyj96v)

HONG KONG ECONOMIC JOURNAL

-- Kingworld Medicines aims to team up with partners in China, including Tencent, to sell pharmaceutical products online, according to Executive Director Li Yusheng.

MING PAO DAILY NEWS

-- China Everbright Ltd aims to spin off its aircraft leasing business and has submitted a listing application of its China Aircraft Leasing Co Ltd to the Hong Kong stock exchange, according to chief executive officer Chen Shuang.

For Chinese newspapers, see............... ($1 = 7.7555 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Subhranshu Sahu)

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