Press Digest: Hong Kong - Nov 24

Great Wall Pan Asia Holdings

24/11/2015 01:52

HONG KONG, Nov 24 (Reuters) - These are some of the leading 
stories in Hong Kong newspapers on Tuesday. Reuters has not 
verified these stories and does not vouch for their accuracy.   
         
    SOUTH CHINA MORNING POST  
    - Lawmakers are demanding a more precise breakdown of 
results of a public consultation on the development of the 
electricity market as nearly a third of submissions were 
templates. They said the government's consultation results 
failed to show a diversity in opinions. Lawmaker Yiu Si-wing 
said the consultation results were too simple. (http://bit.ly/1R26ZU5) 
  
    - Hong Kong's home rents fell 1.8 percent month-on-month in 
October, the biggest monthly decline in four years, according to 
a study by Centaline Property Agency. Analysts say the falling 
trend may intensify as a large number of private housing units 
will be delivered to the primary market soon. (http://bit.ly/1SXIFRK) 
    - Crackdown in the mainland's financial sector is 
intensifying, with Guotai Junan Securities  601211.SS  having 
reported that Yim Fung, head of its overseas subsidiary, has 
gone missing. Sources said they believed the case was related to 
an earlier probe of a high-ranking official at the mainland's 
securities watchdog. (http://bit.ly/1P4vErO) 
     
    THE STANDARD 
    - Standard Chartered Bank (Hong Kong)  STAN.L  on Thursday 
will introduce Hong Kong's first "mobile branch," which will 
extend its services to cover remote areas. Hong Kong Monetary 
Authority chief executive Norman Chan Tak-lam urged other 
lenders to offer this type of service. (http://bit.ly/1P4tWXB) 
    - Households can expect cheaper electricity if talks between 
the government and power companies, on reducing the profit they 
make, are successful. Secretary for Environment Wong Kam-sing 
said the government will start negotiating with CLP Power 
 0002.HK  and Hongkong Electric next year. (http://bit.ly/1I7mybe) 
    - MTR Corp Ltd  0066.HK  received 19 letters of intent to 
undertake the development of Phase 9 of LOHAS Park. Developers 
who showed interest in the project include CK Property 
 1113.HK , Sun Hung Kai Properties  0016.HK , Wheelock 
 0020.HK , China Overseas  0688.HK  and New World Development 
 0017.HK . (http://bit.ly/1OcKQ4P)     
         
    HONG KONG ECONOMIC JOURNAL  
    - Apparels retailer Bauhaus International (Holdings) Ltd 
 0483.HK  posted loss of HK$26.6 million ($3.4 million) for the 
period of April-Sept. The company had seen HK$20.9 million 
profit during same period a year ago. Its profit margin was hit 
by slower growth in China, strong local currency, volatile 
finance markets, and high rental cost. The company said it would 
relocate its stores from its prime location to reduce rental 
cost. 
     
    For Chinese newspapers, see............... PRESS/CN    
($1 = 7.7500 Hong Kong dollars) 
 
 (Reporting by Donny Kwok; Editing by Sherry Jacob-Phillips) 
 ((donny.kwok@thomsonreuters.com)(+852 2843 6470)(Reuters 
Messaging: donny.kwok.reuters.com@reuters.net)) 
 
Keywords: PRESS DIGEST HONGKONG/