HONG KONG Aug 28 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
-- Tenwow International, a Shanghai-based maker of packaged
food and beverage products, started its pre-marketing campaign
in a bid to raise about $200 million through a Hong Kong float
next month. ()
-- State-controlled developer Greenland Group plans to focus
on real estate projects in the Yangtze and Pearl river deltas
over the next five years. It would also inject the best of its
recent mainland projects into the listed company to help it
achieve contract sales of 10 billion yuan ($1.63 billion) next
year and 50 billion yuan by 2018. ()
-- CEF Holdings, a venture between Hong Kong tycoon Li
Ka-shing's flagship company and Canadian Imperial Bank of
Commerce (CIBC), is looking to invest in gold mining
companies after a slump in prices created buying opportunities.
-- Developers, include New World Development Co Ltd
and Cheung Kong Holdings Ltd, have begun
competing for home buyers by offering steep price discounts on
new properties, raising the prospect of an intensifying price
competition as new projects come into the market. ()
HONG KONG ECONOMIC TIMES
-- Yanchang Petroleum International Ltd would
fully acquire Novus Energy Inc, a Canada-based oil and
gas company, for 500 million Canadian dollars ($475.94 million),
according to market sources.
-- China CITIC Bank Corp proposed to
raise as much as 37 billion yuan through a bond issue to
replenish its capital adequacy ratio. ()
-- The Wharf (Holdings) Ltd is bidding for a
highly coveted plot in Shanghai's Xujiahui neighbourhood, said
deputy chairman and managing director Stephen Ng, adding that
Wharf has sufficient funds for the bid. The site's base price is
17 billion yuan. ()
MING PAO DAILY NEWS
-- PICC Group Executive Director Li Liangwen said
its joint venture with American International Group (AIG) is
expected to launch early next year pending regulatory approval.
WEN WEI PO
-- Chinese developer Sunac China Holdings Ltd
would launch 12 new residential projects in the second half and
is confident of achieving a full-year sales target of 45 billion
yuan, said Chief Financial Officer Huang Shuping.
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