Reuters: Financial Services and Real Estate: PRESS DIGEST - Hong Kong - May 4

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PRESS DIGEST - Hong Kong - May 4 May 4th 2012, 01:39 HONG KONG | Thu May 3, 2012 9:39pm EDT HONG KONG May 4 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Friday. Reuters has not verified these stories and does not vouch for their accuracy. SOUTH CHINA MORNING POST -- United Energy Group Ltd, an oil and gas company controlled by mainland tycoon Zhang Hong-wei and backed by a $5 billion credit facility from China Development Bank Corp , plans to spend $200 million this year to develop projects in Pakistan. MING PAO DAILY NEWS -- Macau casino operator MGM China Holdings Ltd said adjusted EBITDA for the first quarter totalled HK$1.38 billion ($177.86 million), up 20.5 percent from a year earlier. SING TAO DAILY -- Kerry Properties Ltd Executive Director Chu Ip-pui has forecast luxury home prices in Hong Kong to rise 10-20 per cent this year as new supply remains tight. TA KUNG PAO -- Chinese property developer Glorious Property Holdings Ltd said contract sales totalled 1.11 billion yuan ($176.05 million) in April, up 98.3 percent from March. -- Sportswear maker Xtep International Holdings Ltd recorded low single-digit, same-store sales growth for the first quarter, but that improved to mid single digits in April, said Chief Financial Officer Ho Yui-pok. THE STANDARD -- PCCW Ltd Chairman Richard Li said the company has no intention of reducing its stake in subsidiary HKT Trust , adding that if the second half remained robust, dividend payouts may surpass what was previously indicated. For Chinese newspapers, see............... For Taiwan newspapers, see................ ($1 = 0.6172 British pounds) ($1 = 7.7588 Hong Kong dollars) ($1 = 6.3050 Chinese yuan) (Reporting by Twinnie Siu; Editing by Chris Lewis) Link this Share this Digg this Email Reprints

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