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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.


-- 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. (

-- 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. (

-- 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. (


-- 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.


-- 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. (

-- 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.


-- 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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