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PRESS DIGEST - Hong Kong - Nov 13

Source: Thomson Reuters Foundation - Tue, 13 Nov 2012 02:00 AM
Author: Reuters
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Nov 13 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.

SOUTH CHINA MORNING POST

-- A luxury residential flat at Opus Hong Kong, the new Frank Gehry-designed building in Mid-Levels East, goes for HK${esc.dollar}455 million (${esc.dollar}58.71 million), or HK${esc.dollar}68,083 per square foot, setting a new record for an apartment in Hong Kong and Asia in terms of price per square foot. (http://link.reuters.com/fyb93t)

-- Novozymes, the world's largest industrial enzyme maker, is in discussions to supply enzymes to projects on the mainland which use agricultural waste to produce ethanol, a clean-burning fuel that can be a substitute for petrol. (http://link.reuters.com/gyb93t)

-- BlackRock is looking to increase its weighting in healthcare firms in the United States and Europe that have exposure to the Asian market, as a safer way to invest in the Asian growth story, said Dan Chamby, managing director at the world's biggest asset manager. (http://link.reuters.com/hyb93t)

THE STANDARD

-- China Rongsheng Heavy Industries Group Holdings said an investment firm, Well Advantage, owned by its chairman Zhang Zhirong, has reached a settlement with the U.S. Securities and Exchange Commission over an alleged insider trading deal. The firm has agreed to pay ${esc.dollar}14.25 million, which is double the amount said to have been made from the inside deal. (http://link.reuters.com/jyb93t)

HONG KONG ECONOMIC JOURNAL

-- Telecoms and media company PCCW Ltd clarified that it is not in talks with regard to a potential investment in a Hong Kong-based online entertainment platform Goyeah.com.

HONG KONG ECONOMIC TIMES

-- At least six companies are poised to kick off initial public offerings to raise a total of more than HK${esc.dollar}35 billion in Hong Kong this month. It include mainland property firms CIFI Holdings (Group) Co Ltd, local restaurant chain operator Tsui Wah, and bedding retailer Casablanca Group Ltd.

APPLE DAILY

-- Next Media Ltd, controlled by Hong Kong media mogul Jimmy Lai, said it expects to record a substantial loss for the six months ended Sept. 30, due to write-offs at its multimedia division in Taiwan.

MING PAO DAILY NEWS

-- HNA Group, China's fourth-largest aviation group, has acquired a financial company in Hong Kong for developing financial business, sources said.

For Chinese newspapers, see............... (${esc.dollar}1 = 7.7505 Hong Kong dollars) (Reporting by Twinnie Siu in Hong Kong; Editing by Anand Basu)

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