HONG KONG Jan 30 These are some of the leading stories in Hong Kong newspapers on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.
SOUTH CHINA MORNING POST
-- Zurich-based Credit Suisse has been seeking to sublet part of its office at the International Commerce Centre in West Kowloon as financial institutions cut costs amid what has been a challenging operating environment since last year. (link.reuters.com/paz55t)
-- The Civil Aviation Department has allowed Hong Kong Airlines to expand its fleet to 22 aircraft from 20 after an improvement to its on-time performance. (link.reuters.com/qaz55t)
HONG KONG ECONOMIC JOURNAL
-- The retail tranche of watchmaker Time Watch Investments' initial public offering has been oversubscribed by 649 times, locking up funds more than HK$52.6 billion ($6.78 billion), according to market sources.
-- Guotai Junan International said in a report that 22 B-share firms spanning real estate, home appliance, food and beverage, jewellery, machinery manufacturer, construction and tourism sectors are the most eligible for H-share conversions, as long as firms have a minimum market capitalisation of 1 billion yuan. (link.reuters.com/raz55t)
SING TAO DAILY
-- PCCW Global, an operating division of HKT Trust , has tied up with Vietnam Posts and Telecommunications Group (VNPT), Vietnam's foremost full service telecommunications service provider, to explore business opportunities in Southeast Asia and beyond.
-- Shirble Department Store Holdings (China) Ltd, whose shares have been suspended for 10 months since March, reported a net loss of 13.8 million yuan ($2.22 million) for the first half of last year.
WEN WEI PO
-- Cosmetics group L'Occitane International S.A. reported net sales of 801.3 million euro ($1.08 billion) for the nine months ended December, an increase of 17.6 percent from a year earlier.
For Chinese newspapers, see............... ($1 = 7.7585 Hong Kong dollars) ($1 = 6.2243 Chinese yuan) ($1 = 0.7420 euros)
(Reporting by Twinnie Siu; Editing by Subhranshu Sahu)