PRESS DIGEST -Hong Kong - March 18

by Reuters
Tuesday, 18 March 2014 01:50 GMT

HONG KONG, March 18 (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.


-- Hutchison Whampoa has put on hold plans to build a luxury house at a government-owned green-belt site on The Peak after neighbours voiced their opposition and district councillors demanded a rethink. ()

-- The People's Bank of China has issued two drafts for consultation aimed at cracking down further on internet finance by limiting online shopping and money transfers for online-payment service providers, according to mainland media reports. ()

-- Hong Kong exporters are much more confident about their prospects in the first quarter of 2014, driven by machinery product orders as manufacturers gear up for a rebound in demand, a quarterly survey by the Hong Kong Trade Development Council showed. ()


-- Mainland police have handed over the two men alleged to have brutally hacked former Ming Pao chief editor Kevin Lau Chun-to in Sai Wan Ho last month. ()

-- MTR Corp will invite developers to submit expressions of interest for the Lohas Park phase four project in Tseung Kwan O on Tuesday, sources said. The development is expected to fetch as much as HK$2.5 billion ($321.93 million). ()

-- Mainland industrial park developer Optics Valley Union opens its retail book to raise up to HK$1.09 billion in its Hong Kong initial public offering. Trading debut is scheduled for March 28. ()


-- Tencent on Wednesday and Thursday sold an aggregate 563 million shares of ChinaVision Media for HK$1.01 billion ($130.06 million), reducing its stake to 1.23 percent from 8 percent, according to a stock exchange disclosure. The share sale came a day after Alibaba announced the acquisition of 60 percent of ChinaVision for HK$6.2 billion.


-- Lee & Man Paper Manufacturing, which registered HK$1.95 billion net profit for 2013, expects its paper sales to achieve double digit growth this year as a new machine commences production, according to chief executive officer Lee Man Bun.


-- China Resources Power has no intention of participating in the Hong Kong power supply business and the suggestion from two of its executives to "nationalise" the city power supply assets was their personal view only, said executive vice chairman Zhang Shenwen.

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