HONG KONG Nov 14 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
-- Wing Lung Bank, a subsidiary of China Merchants Bank , says it wants to double or triple its personal unsecured loan portfolio to achieve better interest income returns. (link.reuters.com/xes64v)
-- Tencent raked in over 500 million yuan ($82.06 million) in profit during the "Double 11" single-day online shopping festival through the use of mobile e-commerce, allowing users of its WeChat messaging software to make fast purchases through smartphones. (link.reuters.com/dus64v)
-- China Everbright Bank held a meeting with its syndicate bankers in Beijing on Wednesday, two people familiar with the deal said, prompting speculation of a year-end Hong Kong listing that would raise up to $4 billion. (link.reuters.com/hus64v)
-- Sofa-maker Man Wah reported a 129 percent year on year rise in profit to HK$502.4 million ($64.80 million) for the six months ended September, thanks to Chinese government subsidies the firm received for participating in a nationwide recycling programme, along with foreign exchange gains. (link.reuters.com/kus64v)
-- Tradelink Electronic Commerce will launch a device, which will be applicable to all mobile network providers in Hong Kong, for turning smartphones into electronic wallets in the first quarter of next year. (link.reuters.com/nus64v)
-- A modest pharmacy operator has agreed to fork out HK$1.28 million ($165,100) in monthly rent for a 900-square-foot shop in the highly coveted Russell Street in Hong Kong's Causeway Bay from next May, edging out a luxury handbags retailer that is now paying HK1.1 million a month. (link.reuters.com/vus64v)
HONG KONG ECONOMIC JOURNAL
-- Chinese engineering firm and real estate developer Metallurgical Corp of China Ltd has won a bid for a residential site in Tsing Lung Tau in New Territories for HK$500.18 million ($64.51 million).
-- Lee Shau Kee, chairman of Henderson Land, has through his own investment fund bought 241 million shares, representing 4 percent of the share capital, of property developer CIFI Holdings Group Co Ltd for HK$405 million ($52.24 million), according to market sources.
HONG KONG ECONOMIC TIMES
-- China's YuanShengTai Dairy Farm Ltd is selling 1.22 billion shares, including 244 million existing shares, in its Hong Kong IPO to raise up to HK$3.88 billion ($500.45 million), of which its international offering portion has been oversubscribed, market sources said.
For Chinese newspapers, see............... ($1 = 6.0928 Chinese yuan) ($1 = 7.7531 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Sunil Nair)