March 12, 2015 / 2:06 AM / 3 years ago

PRESS DIGEST - Hong Kong - March 12

HONG KONG, March 12 (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

-- About HK$57 billion ($7.34 billion) of Mandatory Provident Funds will be moved into the proposed simple "core fund" option to be launched next year, in a major reform to slash the pension fund's fee and yield more stable returns, said a source familiar with the measure. The Mandatory Provident Fund Schemes Authority will announce the details of the core fund reform on Thursday. (bit.ly/1BsEwzA)

-- Another 150 people are reported to have fallen prey to an alleged scam relating to the collapsed Hong Kong-based bitcoin trading platform MyCoin - involving an estimated HK$100 million ($12.88 million). (bit.ly/1HFI8z8)

-- Schemes that make it easy for mainlanders to visit the city, including an individual visit scheme and multiple-entry permits for Shenzhen residents, will soon be changed "to better suit Hong Kong's situation", according to Hong Kong and Macau Affairs Office Deputy Director Zhou Bo. (bit.ly/1C77pBV)

THE STANDARD

-- Hao Wen Holdings said it is in negotiations to acquire ATV and may require funds should a deal materialise. The firm, a biodegradable food container and disposable industrial packaging maker listed on the growth enterprise market, said preliminary discussion has been conducted. (bit.ly/1MsRG1b)

-- Tours to Japan and other Asian countries during Easter are fully booked because of five days of holidays, travel agents in Hong Kong say. But the cheaper yen has not led to cheaper Japan tours as demand exceeds supply, says EGL Tours Executive Director Steve Huen Kwok-chuen. (bit.ly/1AlVgU7)

-- Hong Kong has the second-fastest average internet connection speed in the world behind South Korea, and also the highest average peak connection speed. According to cloud computing company Akamai Technology's latest State of the Internet report for the third quarter of last year, Hong Kong's average internet speed was 16.3 megabits per second. (bit.ly/1HFMciE)

HONG KONG ECONOMIC JOURNAL

-- Shopping mall operator Hysan Development will aim to secure more tenants from the lifestyle segment in the wake of changing spending pattern of shoppers, according to Chairwoman Irene Lee Yun-lien.

-- Chinese property developer Country Garden Holdings Company Ltd set a conservative sales target of 135 billion yuan ($21.56 billion) for this year, up 4.8 percent from its actual sales last year, as the property market remains challenging, said Executive Director Mo Bin.

For Chinese newspapers, see............... ($1 = 7.7659 Hong Kong dollars) ($1 = 6.2613 Chinese yuan renminbi) (Reporting by Donny Kwok; Editing by Subhranshu Sahu)

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