HONG KONG, Feb 4 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Monday. Reuters has not verified these stories and does not vouch for their accuracy.
— China Oilfield Services Ltd (COSL) expects the basic drilling rate it charges its customers to be flat this year but the overall average fee of its services to increase as the company handles more complex and technically challenging operation, said Chief Executive Li Yong.
— A group of Hong Kong investors have called for laws to regulate celebrity advertising, claiming to have been misled into pouring money into a Guangdong shopping arcade project.
— Tenwow Food, a mainland food and beverage retailer, has submitted its listing application to Hong Kong Exchanges and Clearing, aiming to list on the first half of this year, according to market sources.
— Retail companies are tipped to be among the most popular firms converting their mainland B shares into locally listed H shares, according to Deloitte Touche Tohmatsu.
— Hong Kong Financial Secretary John Tsang refuted accusations that he deliberately underestimated the government’s fiscal revenue in order to curb spending. He emphasised that the government would spend wisely and only when necessary.
— Ford Motor Co, the second-largest U.S. automaker, expects Hong Kong’s commercial car market would have a 25 percent growth in the next five years. The company plans to bring in an upgraded version of liquefied petroleum gas taxi, Transit Connect Taxi, to the Hong Kong market in 2014, said Hal Feder, Ford’s director for export and growth.
— CITIC Resources Holdings Ltd said it expected to record significant loss for 2012 due to losses at its subsidiary CITIC Dameng Holdings Ltd, but added the impairment loss would not have an adverse effect on its cashflow.
— Guangzhou R&F Properties Ltd said contract sales totalled 2.63 billion yuan ($422.35 million) in January, up 115 percent from a year earlier.
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