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PRESS DIGEST - Hong Kong - March 7
March 7, 2013 / 2:22 AM / in 5 years

PRESS DIGEST - Hong Kong - March 7

HONG KONG, March 7 (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.


-- Cheung Kong (Holdings) Ltd expects to bank up to HK$40 billion ($5.16 billion) from property sales in Hong Kong and the mainland this year, a record for the company, said executive director Justin Chiu, adding that the developer would be making more than 5,200 Hong Kong flats and 2,500 mainland units available for sale this year, also a record high.

-- Paliburg Holdings and its partner Regal Hotels International Holdings will add more than 1,000 hotel rooms in the next three years despite fears of further measures to restraint growth of mainland visitors.

-- Hysan Development Co is redeveloping commercial block Sunning Plaza and residential project Sunning Court, in Causeway Bay, into a single mixed-use office and retail complex. The project is expected to be completed by around 2018.


-- Chinese state-owned insurer PICC Group has kicked off its A-share listing plan and hopes to complete it in the second half of this year, said chairman Wu Yan.


-- Chinese developer SOHO China Ltd, which saw net profit surge to 10.6 billion yuan ($1.70 billion) in 2012, is looking for merger or acquisition opportunities in Beijing and Shanghai this year, said chief executive Zhang Xin.


-- Cheung Kong (Holdings) Ltd has no plan at the moment to sell more hotel units as the number of residential units pending for sale is already very high, said executive director Justin Chiu.

For Chinese newspapers, see............... ($1 = 7.7560 Hong Kong dollars) ($1 = 6.2181 Chinese yuan) (Reporting by Twinnie Siu; Editing by Sunil Nair)

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