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PRESS DIGEST - Hong Kong - Nov 26

Source: Thomson Reuters Foundation - Mon, 26 Nov 2012 02:08 GMT
Author: Reuters
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HONG KONG, Nov 26 (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

-- Television Broadcasts Ltd has shelved a HK${esc.dollar}50 million (${esc.dollar}6.45 million) plan to launch an international English channel in the face of uncertainties in the free-television market, a company official said. (http://link.reuters.com/cub34t)

-- Bank of China plans to expand its yuan business in London as the British government and the City of London are both keen to develop London as a Western hub for offshore yuan business, said Wang Huabin, chief corporate banking officer of Bank of China (UK). (http://link.reuters.com/dub34t)

-- Wind power generation company China Longyuan Power Group Corp Ltd aims to raise its offshore generating capacity fivefold by 2015, despite technical challenges and the large capital required. (http://link.reuters.com/fub34t)

THE STANDARD

-- Hong Kong Financial Secretary John Tsang is not worried that lower income from land sales and premiums will lead to a fiscal deficit because such earnings make up just 15 percent of the government's revenue which is diversified and not over-reliant on a single source, he said on his personal blog. (http://link.reuters.com/gub34t)

HONG KONG ECONOMIC JOURNAL

-- China Resources Enterprise Ltd, the country's supermarket operator, maintains new store opening target at 400-500 a year, Chief Financial Officer Frank Lai said. The company is bidding for Chinese brewer Kingway Brewery Holdings Ltd as the valuation comes down, he added.

-- Chinese drugmaker Sihuan Pharmaceutical Holdings Group Ltd Chairman Che Feng-sheng said the company needed at least three years for its flagship products to sell overseas.

HONG KONG ECONOMIC TIMES

-- Cheung Kong (Holdings) will continue to delay the potential spin-off of its serviced apartments unit, Horizon Hospitality. The Company said the prospectus was not expected to be issued on or before Dec. 3.

ORIENTAL DAILY

-- Coal-bed methane explorer Asian American Gas Ltd, which plans to launch an initial public offering in Hong Kong by early December, has passed its listing hearing, planning to raise ${esc.dollar}2 million, according to market sources.

For Chinese newspapers, see............... (${esc.dollar}1 = 7.7504 Hong Kong dollars) (Reporting by Twinnie Siu; Editing by Gopakumar Warrier)

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