July 14, 2011 / 1:52 AM / 8 years ago

PRESS DIGEST - Hong Kong - July 14

HONG KONG, July 14 (Reuters) - 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

— Cosco Shipping Co Ltd , the heavy-lift and project cargo subsidiary of the mainland’s largest shipping company, will spend about $12 million on armed guards and other measures this year for protection against piracy in the Gulf of Aden and the Indian Ocean. The budget includes the cost of bullet-proof vests and on-board detectives and protective equipment, the company said.

— Graig Group, the British ship owner and ship services firm, commissioned up to 26 feeder container ships from mainland shipbuilder Jinhai Heavy Industy in order to boost intra-Asia trade. The initial order costs about $180 million for six of the new containerships, said Chris William, commercial director of Graig Shipping.

HONG KONG ECONOMIC TIMES

— Chinese developer Longfor Properties Co Ltd said its contracted sales totalled 18.3 billion yuan ($2.8 billion) in the first six months of the year, achieving 45.7 percent of its 40 billion yuan ($6.1 billion) year sales target.

HONG KONG ECONOMIC JOURNAL

— Cosmetic products retailer Sa Sa International Holdings Ltd announced that its group turnover increased 34.6 percent year on year for the first quarter ended in June, with same store sales growth at 26.3 percent.

APPLE DAILY

— Dah Sing Bank said it will lift HIBOR-based mortgage rates on Thursday to HIBOR plus 1.75 - 2.25 percent from HIBOR plus 1.5 - 2 percent.

— Guangzhou Huanya Cosmetics, a China cosmetics company which sells mainly Chinese herbal based skin-care products, plans to have its Hong Kong listing hearing next month for a listing in September, aiming to raise up to HK$1.5 billion ($192.3 million), market sources said.

TA KUNG PAO

— Mid-sized lender China Everbright Bank , which planned to list in Hong Kong on July 15 and raise about $6 billion in the initial public offering, will postpone its listing again because of market volatility, market sources said. — China Railway Group Ltd , the country’s largest construction and engineering company, said its subsidiary had acquired a number of projects recently, totalling 22.41 billion yuan ($3.47 billion).

For Chinese newspapers, see...............

For Taiwan newspapers, see................ (Reporting by Twinnie Siu, Viola Ho, Ingrid Tjendro and Zoey Zhang; Editing by Jacqueline Wong) ($1 = 6.553 yuan)

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