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PRESS DIGEST - Hong Kong - June 20
June 20, 2013 / 2:37 AM / 4 years ago

PRESS DIGEST - Hong Kong - June 20

HONG KONG, June 20 (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

-- Investment holding firm South China Holdings Ltd has filed a civil lawsuit on the mainland against Alibaba-backed listing candidate Sinosoft Technology for up to 210 million yuan ($34.28 million) in compensation, saying the software developer breached a joint-venture agreement. (link.reuters.com/nam98t)

-- Nexteer Automotive Group Ltd, the world's fifth largest supplier of steering systems, said it has up to $7.2 billion worth of new orders lined up for the next three years. The company is looking to raise up to HK$2.5 billion ($322.32 million) through its initial public offering which opens on Thursday. (link.reuters.com/pam98t)

-- Hong Kong Exchanges and Clearing Ltd has no plans to introduce the current London Metal Exchange (LME) products for trading in Hong Kong but would instead consider newly created commodities products, said HKEx chief executive Charles Li. (link.reuters.com/qam98t)

THE STANDARD

-- Hongkong and Shanghai Hotels Ltd said it is looking to acquire a 50 percent stake of a site in London for 132.5 million pounds ($207.49 million), to jointly develop the site with Grosvenor property group into a luxury hotel. (link.reuters.com/ram98t)

-- China Huiyuan Juice Group Ltd said it is in talks to sell its Shanghai unit to Uni-President China Holdings Ltd, a subsidiary of Taiwan's largest food conglomerate, for 300 million yuan, but that no agreement has so far been reached. (link.reuters.com/sam98t)

SING TAO DAILY

-- Chinese property conglomerate Dalian Wanda Group would spend 700 million pounds on building a 62-story luxury hotel and an apartment building in Central London, said Chairman Wang Jianlin. The company also plans to build luxury hotels in eight to 10 cities globally, with the next one in New York.

-- Hypermarket chain operator Sun Art Retail Group Ltd said it has established a 65 percent owned online retail business, Uitox E-commerce (Shanghai) Co Ltd, in China with registered capital of 100 million yuan.

For Chinese newspapers, see............... ($1 = 0.6386 British pounds) ($1 = 6.1269 Chinese yuan) ($1 = 7.7562 Hong Kong dollars) (Reporting by Twinnie Siu; Editing by Jijo Jacob)

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