October 7, 2013 / 1:52 AM / 4 years ago

PRESS DIGEST-Hong Kong - Oct 7

Oct 7 (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

-- The Hong Kong government is studying the feasibility of selling confiscated goods such as cars at "electronic auctions". Two mainland provinces already sell such items on the Taobao site and at least one police force in Britain is using eBay to sell goods seized from criminals. The government Logistics Department said the study was at a preliminary stage and it had not decided what platform to use. (link.reuters.com/fuj63v)

-- Mainland Chinese companies and individuals are ramping up purchases of property in California, accounting for an increasingly significant share of real estate deals in the Golden State. Property agents in San Francisco and Los Angeles fly in groups of Chinese investors to buy property, said Robert Pearce, a director of Blackfish, a company that markets United States real estate. (link.reuters.com/guj63v)

THE STANDARD

-- Hong Kong mattress maker Sinomax, which has some 500 shops and points of sale in Shenzhen, Guangzhou, Shanghai, and Beijing, is planning to raise HK$1.17 billion ($150.9 million) in an initial public offering on the local bourse, according to sources. Herbal tea chain operator Hung Fook Tong Holdings, which operates 120 shops in Hong Kong and the mainland, is also considering a listing on the Hong Kong stock exchange. (link.reuters.com/kuj63v)

-- Sun Hung Kai Properties is offering cash rebates ranging from HK$385,200 ($49,700) to several million dollars at luxury project The Cullinan, in yet another sign of a sluggish market. (link.reuters.com/muj63v)

HONG KONG ECONOMIC JOURNAL

-- At least 12 companies, including Chongqing Bank and Power Assets’ Hongkong Electric, are aiming to seek a listing in the city before the end of 2013, raising up to an estimated HK$72.1 billion ($9.30 billion), according to market estimates.

MING PAO DAILY NEWS

-- Cruise ship leasing firm Success Universe Group Ltd plans to develop high end shopping mall in Macau in a bid to capture growth as the city further develops, according to deputy chairman Hoffman Ma.

For Chinese newspapers, see............... ($1 = 7.7547 Hong Kong dollars) (Reporting by Donny Kwok in Hong Kong; Editing by Anand Basu)

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