September 17, 2012 / 2:02 AM / 5 years ago

PRESS DIGEST - Hong Kong - Sept 17

HONG KONG, Sept 17 (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

-- Cross-border flood of traders into Sheung Shui in the New Territories has inflated the price of everyday goods by up to 20 percent as compared to other districts as traders snap up products and take them across the border, fuelling a protest by hundreds of residents outside a train station there over the weekend.

-- China’s non state-owned oilfield service supplier Anton Oilfield Services Group expects to source more than half of its business from abroad in the next five years from 25 percent currently, according to its chairman Luo Lin.

HONG KONG ECONOMIC JOURNAL

-- China Resources Land Ltd is planning to acquire from China Resources Company Ltd, t he parent company, a residential, commercial and office property project in Nanning in China’s Guangxi, valued at 2 billion yuan ($316.73 million), according to market sources.

-- Casino and entertainment group Melco International Development Ltd said its major shareholder Lawrence Ho would convert his holding of HK$1.175 billion ($151.58 million)worth of Convertible Loan Notes into about 298.98 million new shares at HK$3.93 each, raising his shareholding in the company to about 48.5 percent from 36 percent.

HONG KONG ECONOMIC TIMES

-- Sun Hung Kai Properties has expressed interest to solely bid for a residential site in Tseung Kwan O in the New Territories, valued up to HK$2.5 billion ($322.52 million), as it expands its portfolio in the district, according to a senior executive of the developer.

APPLE DAILY

-- Expressway investment and operation firm China Resources and Transportation Group said it would sell its 55 percent interest in a Beijing property joint venture to a third party, China International Holdings Ltd, for HK$550 million as the Hong Kong firm divests its non-core assets.

For Chinese newspapers, see............... ($1 = 6.3145 Chinese yuan) ($1 = 7.7516 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Jijo Jacob)

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