PRESS DIGEST - Hong Kong - June 27
HONG KONG, June 27 |
HONG KONG, June 27 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.
SOUTH CHINA MORNING POST
-- Bain Capital, whose investment portfolio on the mainland includes China's No. 2 home appliance retailer Gome Electrical Appliances, is close to completing a fund raising of about $2.5 billion for a new Asia-dedicated private-equity investment vehicle, according to people familiar with the situation.
-- Hopewell Holdings has finally cleared all the major obstacles in the nearly three-decade struggle over its Hopewell Centre II hotel development in Wan Chai, and has accepted the government's land exchange offer by paying a premium of HK$3.73 billion ($480.71 million). The construction of the hotel would start by the end of this year and should be completed in 2018, said managing director Thomas Wu.
-- Hong Kong people's sense of identity as Chinese citizens has fallen to the lowest in 13 years, according to a Hong Kong University poll.
HONG KONG ECONOMIC JOURNAL
-- Fast food chain operator Café de Coral Holdings Ltd plans to lift prices on its menu board by another 3-4 percent in the next 12 months due to rising costs, said Chairman Michael Chan.
-- Ulferts, the Hong Kong retail chain store for up-market European furniture, plans to list in the city this year, raising over HK$10 million ($1.29 million), market sources said.
-- Bright Smart Securities & Commodities Group Ltd chairman Peter Yip said he plans to open its fourth disco next year in Central, Hong Kong, and may consider a flotation when it reaches eight to ten venues, but there is no timetable yet.
For Chinese newspapers, see............... ($1 = 7.7593 Hong Kong dollars) (Reporting by Twinnie Siu; Editing by Sunil Nair)
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