February 19, 2013 / 1:56 AM / 5 years ago

PRESS DIGEST - Hong Kong - Feb 19

HONG KONG, Feb 19 (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.

SOUTH CHINA MORNING POST

-- The Lands Department is investigating whether property giant Cheung Kong has violated land lease regulations by selling the first 65 of the 360 units at a suite hotel in Kwai Chung, which opened in 2009. It is the latest attempt by a developer to offer options to investors wishing to avoid the growing policy risks of residential property.

-- SmarTone Telecommunications Holdings, which saw its interim net profit decline by 3 percent to HK$459 million ($59.19 million), aims to target more lower-spending 3G network users to offset falling roaming revenue and stiff price competition in Hong Kong's 4G mobile market.

THE STANDARD

-- Hong Kong Disneyland has posted a net profit of HK$109 million for the fiscal year ending September, and is now looking into plans for the next stage of expansion, said Managing Director Andrew Kam. It is the first time since its opening in 2005 that Hong Kong Disneyland is posting a profit.

WEN WEI PO

-- China Life Insurance said its premium income in January totalled about 46.8 billion yuan ($7.50 billion), down 4.68 percent from a year earlier.

TA KUNG PAO

-- Agricultural Bank of China said it has received approval for setting up a branch in Dubai.

-- Automotive engine manufacturer Xinchen China Power Holdings, an affiliate of Brilliance China Automotive Holdings , is expected to kick off its initial public offering roadshow on Feb. 25 and then open its retail book within the same week, aiming to raise about $100 million.

For Chinese newspapers, see............... ($1 = 7.7543 Hong Kong dollars) ($1 = 6.2427 Chinese yuan)

Reporting by Twinnie Siu; Editing by Jijo Jacob

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