March 8, 2013 / 2:20 AM / in 5 years

PRESS DIGEST - Hong Kong - March 8

HONG KONG, March 8 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Friday. Reuters has not verified these stories and does not vouch for their accuracy.


-- Hongkong Land Holdings Ltd, the largest landlord in Central, will look into opportunities to expand to areas stretching from Sheung Wan to Causeway Bay where there are good rents and international players want to base their businesses, its Chief Executive Pang Yiu-kai said.

-- China is poised to set up a currency swap agreement with the world’s largest foreign exchange market in London as the yuan is expected to become the most commonly traded currency in the next decade, said Fang Fang, a senior executive of JP Morgan.


-- A plot in Ho Man Tin, which is designated for luxury residences, is expected to fetch more than HK$10 billion ($1.29 billion), would make the site one of the costliest in recent years. This is also the first site being tendered after the latest property sector curbs, with stamp duties now doubled for second homes.

-- The Hong Kong Monetary Authority has ruled that the lower threshold for risk-weighted assets in newly offered mortgages will be raised to 15 percent from 10 percent. Standard Chartered has not yet decided on any adjustments, said chief executive of Standard Chartered Hong Kong Benjamin Hung. He added that the new moves would depend on market environment.


-- Chinese developer Wuzhou International, which has business focused in the Yangtze River Delta region, is planning to kick off its Hong Kong initial public offering in May to raise about $200 million, according to market sources.


-- Hong Kong’s Cheung Kong Infrastructure Holdings , which reported a 22 percent rise in net profit, boosted by growth in its British units, plans more international acquisitions this year, Chairman Victor Li said.


-- Cheung Kong (Holdings) Ltd’s latest residential project, One West Kowloon, has cut its unit prices by about 11 percent, thus becoming the first developer to trim prices following the latest round of government curbs imposed on the property sector.


-- Shui On Land Ltd said contracted sales for the first two months totalled 2.52 billion yuan ($405.13 million), representing 28 percent of the 2013 full-year sales target of 9 billion yuan.

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