HONG KONG Aug 1 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
-- Kerry Properties Ltd said it intends to spin off its logistics arm, Kerry Logistics Network Ltd, in a Hong Kong listing, at a time when global trade is showing few signs of a strong recovery. (link.reuters.com/xax99t)
-- Hang Lung Properties Ltd chairman Ronnie Chan said the government's policies to cool property prices are likely to remain in place in the near future, and that there was no need to further tighten the measures since transactions had already hit a two-decade low. (link.reuters.com/zax99t)
-- The State Administration of Foreign Exchange said Hang Seng Investment Management, the investment arm of Hang Seng Bank , which got its renminbi qualified foreign institutional investor (RQFII) licence in June, obtained a one billion yuan ($163.2 million) quota from the regulator, become the first offshore firm with RQFII quota. (link.reuters.com/bex99t)
MING PAO DAILY NEWS
-- Shun Tak Holdings Ltd said it has won a site on Zhuhai's Hengqin Island, next to Macau, for 721 million yuan. The land aims to feature an integrated mix of office, hotel, serviced apartment and commercial elements.
SING TAO DAILY
-- Richard Li, chairman of telecommunications company PCCW Ltd and the younger son of billionaire Li Ka-shing, said his family has never thought of withdrawing from Hong Kong. Hutchison Whampoa's plan to sell supermarket chain ParknShop is a normal business consideration, he added.
-- Japanese style noodle restaurant chain Ajisen (China) Holdings Ltd said it expected to record a substantial increase in first-half net profits due to steady growth in core businesses and effective cost control.
WEN WEI PO
-- Agile Property Holdings Ltd said it has acquired a commercial site in Hangzhou, Zhejiang Province, for 1.3 billion yuan.
For Chinese newspapers, see............... ($1 = 6.1289 Chinese yuan) (Reporting by Twinnie Siu; Editing by Gopakumar Warrier)