January 9, 2013 / 2:40 AM / 5 years ago

PRESS DIGEST - Hong Kong - Jan 9

HONG KONG, Jan 9 (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.


-- Rents at Soundwill Holdings' latest commercial project, Soundwill Plaza II - Midtown, in Causeway Bay had set a record for restaurant tenants in the city's busiest shopping district, market sources said. The rents average HK$100 per square foot per month, 10 percent higher than the HK$90 per square foot that similar tenants are charged at Russell Street, the most expensive retail strip in the world. (link.reuters.com/fyc25t)

-- Hong Kong's Ocean Park has launched a new tender for its first hotel, aiming to open it in 2016, three years behind schedule. (link.reuters.com/gyc25t)


-- PricewaterhouseCoopers expects a budget surplus of HK$28.7 billion ($3.70 billion) rather than the HK$3.5 billion deficit the government forecast for 2012-13. (link.reuters.com/hyc25t)

-- EK Immigration Consulting is expected to soon become the first such consultancy to list on Hong Kong stock exchange, with an initial public offering to raise around HK$100 million. (link.reuters.com/jyc25t)


-- The initial public offering of supply chain service provider Speedy Global Holdings Ltd was oversubscribed 426 times, locking up HK$5.3 billion in margin orders, according to market sources. The trading is tipped to start on January 15.


-- China Xijiu, sister company of premium liquor producer Kweichow Moutai Co, plans to list in Hong Kong this year at the earliest, said Xijiu’s deputy general manager Hu Bo, without saying the fundraising size.


-- Property developer China Vanke will follow China International Marine Containers Group Co in converting B shares to H by introduction, which means it will not issue new shares, market sources said.


-- Chinese handset maker TCL Communication Technology Holdings Ltd said it expects to post a loss in its quarterly and annual financial results for the year ending in December 2012 due to a general decrease in the average unit selling price and gross profit margin for feature phones.

For Chinese newspapers, see............... ($1 = 7.7512 Hong Kong dollars) (Reporting by Twinnie Siu; Editing by G.Ram Mohan)

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