January 14, 2014 / 2:20 AM / 4 years ago

PRESS DIGEST - Hong Kong - Jan 14

HONG KONG, Jan 14 (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.


-- A Sichuan company, Seven Star Energy Investment, intends to spend 1 billion yuan ($165.47 million) on building the world's first full-scale replica of the Titanic as part of a theme park in the southwestern province's Daying county. (link.reuters.com/kyf95v)

-- Shuanghui International, China's largest meat processor, plans to apply as early as next week for a listing on the Hong Kong stock exchange to raise up to $6 billion, said people familiar with the situation. (link.reuters.com/pyf95v)

-- Six companies have suspended their initial public offering plans, embarrassing China's securities regulator and providing further evidence that a 15-month-long effort to reform the new share sale mechanism on financial exchanges still faces hurdles and scepticism from investors. (link.reuters.com/qyf95v)


-- Details of a pilot scheme for yuan capital account convertibility in the Shanghai Free Trade Zone will be announced this quarter, said executive vice mayor of Shanghai Tu Guangshao. Tu expects more mainland financial resources to flow into Hong Kong. (link.reuters.com/syf95v)

-- Tsui Wah Holdings will open a flagship store in Causeway Bay by paying a monthly rent of up to HK$1.46 million ($188,300), replacing a renowned restaurant that paid 80 percent less. (link.reuters.com/vyf95v)

-- People are increasingly turning to free newspapers and the internet to stay abreast of happenings, according to a survey by Chinese University of Hong Kong. It said 63 percent of 1,013 people aged 15 and above interviewed in November and December read a paid newspaper within any one week. (link.reuters.com/gag95v)


-- The retail public offering portion of the IPO of Hong Kong’s first clubs operator, Magnum Entertainment, was seen 869 times oversubscribed on the first day of its launch, while the international placing portion was seen 10 times oversubscribed, according to market sources.


-- Sun Hung Kai Properties’ major shareholder, Kwong Siu-Hing, and his two sons Raymond Kwok and Thomas Kwok and two grandsons bought a total of 498,000 shares in the open market for HK$48.1 million ($6.20 million), according to a stock exchange disclosure.

For Chinese newspapers, see............... ($1 = 6.0434 Chinese yuan) ($1 = 7.7547 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Subhranshu Sahu)

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