February 26, 2013 / 2:15 AM / 5 years ago

PRESS DIGEST - Hong Kong - Feb 26

HONG KONG, Feb 26 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.


— Hong Kong utility CLP Holdings would still have to fork out an impairment loss of HK$315 million ($40.61 million) this year for its new plant in Jhajjar in India, where utilisation was 30 percent due to short supply of coal, said chief executive Andrew Brandler. The firm would also stop investing further in thermal power generation in India for now, he added.


— Oi Wah Pawnshop Credit Holdings, a pawnshop operator in Hong Kong, will open the retail book on Feb. 27 for its HK$98 million initial public offering in the city.


— Bank of East Asia Ltd sold 75 million shares of SCMP Group at an average of HK$1.583 each on Feb. 21, according to an exchange disclosure. The bank now owns 0.26 percent stake of SCMP.


— Cheung Kong Holdings said up to 80 percent of those buying units at its Apex Horizon Hotel in Kwai Chung have signed formal sales contracts despite the swirl of controversy that continues to hound the project.

— Two funds, BCT and Invescom, composed of offshore yuan-denominated bonds, will be launched for the Mandatory Provident Fund retirement scheme, one as early as next week. These are expected to generate an annual return of 6 to 8 percent, excluding charges.

For Chinese newspapers, see............... ($1 = 7.7566 Hong Kong dollars)

Reporting by Twinnie Siu; Editing by Prateek Chatterjee

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