September 13, 2012 / 1:56 AM / 5 years ago

PRESS DIGEST - Hong Kong - Sept 13

HONG KONG, Sept 13 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.

SOUTH CHINA MORNING POST

-- China will probably take the groundbreaking step of making the yuan a fully convertible currency as early as 2015, former central bank governor Dai Xianglong said.

-- Shareholders of Macau casino investor Amax Holdings voted to remove eight of its nine directors at closed-door meetings on Wednesday, and the company said it is seeking a new auditor and laid the groundwork for a possible share restructuring.

-- The Hong Kong office of Nomura fired 15 analysts out of a total of about 50, almost 30 percent of its research team on Wednesday, as an uncertain global economic outlook forces the Japanese brokerage to cut costs, according to people who asked not to be named.

-- Gateway Energy & Resource Holdings, an investment fund managed by the Asian arm of US private equity firm EIG Global Energy Partners, is aiming to list in Hong Kong and raise around $200 million in the second quarter next year after poor market conditions saw it pull the planned listing last March.

HONG KONG ECONOMIC TIMES

-- Hong Kong Exchanges and Clearing Ltd said has renewed the contract of its Chief Executive Charles Li for a further 3-year term to October 2015. His base salary will rise to HK$8.09 million ($1.04 million) a year from HK$7.52 million per year in his last contract.

-- Longfor Properties Co Ltd said contract sales for August totalled 3.58 billion yuan ($565.88 million), up 11.5 percent from a year earlier.

THE STANDARD

-- The Urban Renewal Authority has received 12 tenders, including developers Sun Hung Kai Properties, Henderson Land and New World Development, for the residential- cum-commercial project at Sai Yee Street (also known as Sneaker Street) in Mong Kok. The plot will likely fetch up to HK$3.6 billion.

-- Popular smartphone messaging application WhatsApp is tying up with Hutchison Telecommunications’ local telecom operator 3 Hong Kong. Subscribers for the new plan launched on Tuesday will be able to connect to the chatting app in 78 destinations via 93 networks.

TA KUNG PAO

-- China Railway Group Ltd , the country’s largest construction and engineering company, said it had signed agreements for construction projects worth about 28.09 billion yuan.

For Chinese newspapers, see............... ($1 = 6.3264 Chinese yuan) ($1 = 7.7547 Hong Kong dollars)

Reporting by Twinnie Siu; Editing by

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