PRESS DIGEST - Hong Kong - Nov 23

HONG KONG, Nov 23 (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. SOUTH CHINA MORNING POST

-- Macau's commissioner of audit Fatima Choi, who has investigated major misspending cases, is set to be the only top official missing out reappointment when the new government under new chief executive Fernando Chui takes over in December, according to insiders in the Macau government.

-- Mainland airlines are facing stiff competition from high-speed railway that is set to cover 80 percent of the airlines' current network by 2020 and offer passengers a cheaper and more reliable ride.

HONG KONG ECONOMIC JOURNAL

-- Bank of Communications (3328.HK) is seen having an increasing need to raise funds in the market in the next 12 months as the Chinese bank may need to lift its capital adequacy ratio as its loan business grows, a report by Macquarie showed. HONG KONG ECONOMIC TIMES

-- Taifeng Textile, manufacturer of yarn and textile on the mainland, plans to raise HK$780 million (US$100 million) in an initial public offering of shares to be launched in Hong Kong on Dec. 1. Trading of the stock is expected to begin on Dec. 11.

MING PAO

-- Chinese property developer Glorious Property (0845.HK) said it would buy two large parcels of land in Shanghai for developing into office buildings, service apartments, and hotel for 2 billion yuan (US$292.9 million), a deal to be funded by internal resources and bank financing.

SING TAO DAILY