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PRESS DIGEST - Hong Kong - May 30
May 30, 2013 / 2:22 AM / 4 years ago

PRESS DIGEST - Hong Kong - May 30

HONG KONG, May 30 (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 Telecom Corp Ltd, the country's third-largest mobile phone carrier, will focus on middle to high-end clients rather than competing in the low-end market, said Chairman Wang Xiaochu, adding that the company received no notice from the government on the country's 4G agenda, which is likely to be approved within this year. (link.reuters.com/bub58t)

-- Barry Cheung, the chairman of the failed Hong Kong Mercantile Exchange, denied media reports saying he had sought help from a triad-linked businessman for HK$20 million ($2.58 million) and a developer to resolve his company's financial crisis. (link.reuters.com/cub58t)

-- Wang Guangya, director of the Hong Kong and Macau Affairs Office, insisted that Beijing still backs Chief Executive Leung Chun-ying and has no plans to consider a replacement. It is the first time Beijing has expressed support for Leung since his top ally, former executive councillor Barry Cheung became embroiled in a police investigation into the failed Hong Kong Mercantile Exchange, which Cheung founded. (link.reuters.com/dub58t)

MING PAO DAILY NEWS

-- Henderson Land Development Co Ltd Chairman Lee Shau-kee bought an additional 2.603 million shares of the company at an average of HK$56.714 each for about HK$147 million on May 23, the largest purchase so far this month, according to an exchange disclosure.

THE STANDARD

-- Shui On Land Ltd Chairman Vincent Lo said will take up a more active role in the company following a hiatus of two years as the mainland property market is becoming more challenging. (link.reuters.com/fub58t)

-- China Petroleum & Chemical Corp (Sinopec) , Asia’s largest refiner, said its president Wang Tianpu will resign to be replaced by non-executive director Li Chunguang.

ORIENTAL DAILY

-- Pachinko parlor operator Dynam Japan Holdings Co is in talks with Macau gaming operators on a casino project, but no concrete proposals have been finalised, said Chairman and Chief Executive Yoji Sato.

For Chinese newspapers, see............... ($1 = 7.7638 Hong Kong dollars)

Reporting by Twinnie Siu; Editing by Prateek Chatterjee

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