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PRESS DIGEST - Hong Kong - Feb 14
February 14, 2014 / 2:16 AM / 4 years ago

PRESS DIGEST - Hong Kong - Feb 14

HONG KONG, Feb 14 (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.

SOUTH CHINA MORNING POST

-- Canada's immigration minister Chris Alexander has invited tens of thousands of Chinese millionaires to find other ways of getting into the country, and reassured would-be migrants in Hong Kong and on the mainland that Canada's immigration system remained open for business. (link.reuters.com/heg86v)

-- The enthusiasm of mainland Chinese travellers for Japan hit a record high during the Lunar New Year holiday, despite the frosty ties between Beijing and Tokyo. Japan issued 79,000 visas for mainland Chinese group tourists last month and more than 30,000 for individual visitors. (link.reuters.com/jeg86v)

-- SmarTone Telecommunications, which saw its net profit fall in the six months to December, expects growth prospects to remain tough as the Hong Kong market awaits the 3G spectrum auction later this year. (link.reuters.com/keg86v)

THE STANDARD

-- SJM Holdings, Asia's biggest casino operator founded by Macau tycoon Stanley Ho, will spend HK$30 billion ($3.87 billion) to build its first resort in Macau's Cotai strip, Lisboa Palace, which will open in 2017. (link.reuters.com/qeg86v)

-- The non-performing loan ratio for Chinese banks edged up to 1 percent at the end of December from 0.97 at the end of September, the mainland bank regulator said. (link.reuters.com/seg86v)

HONG KONG ECONOMIC JOURNAL

-- NagaCorp Ltd, which operates a hotel-casino entertainment complex in Cambodia, is studying options to attract more mainland tourists, including operating flights from China and Macau to bring in more visitors, according to chief executive officer Chen Lip-Keong.

-- GCL-Poly Energy Holdings Ltd said it would buy 68 percent of printed circuit boards maker Same Time Holdings at HK$4 per share, representing a 70 percent discount to the previous close, for HK$1.4 billion ($180.50 million).

MING PAO DAILY NEWS

-- McDonald’s Corp plans to invite individual investors from the mainland and Hong Kong to join its franchise operation in five top tier Chinese cities, including Shenzhen and Shanghai. Investors will have to pay 2 million yuan ($329,800) to operate a designated store for 10 years.

For Chinese newspapers, see............... ($1 = 7.7561 Hong Kong dollars) ($1 = 6.0636 Chinese yuan) (Reporting by Donny Kwok; Editing by Sunil Nair)

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