Reuters: Financial Services and Real Estate: PRESS DIGEST - Hong Kong - May 3

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PRESS DIGEST - Hong Kong - May 3 May 3rd 2012, 01:38 HONG KONG | Wed May 2, 2012 9:38pm EDT HONG KONG May 3 (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 -- Tai Cheung Holdings Ltd has outbid ten other developers to win a 46,700-square-foot site in Repulse Bay for HK$1.67 billion ($215.26 million). The luxury residential site fetched nearly HK$40,000 per buildable square foot, the second-highest price ever paid for government land in Hong Kong. -- Scoach, owned by the stock exchange operators of Germany's Deutsche Bourse and Switzerland's Six Group, has been authorised by the Securities and Futures Commission to offer services in the city, allowing local investors to trade through Hong Kong brokers who can connect to Scoach's electronic trading platform to access more than 900,000 structured products including warrants and commodities derivatives. -- The 4G operations of 3 Hong Kong, the mobile unit of Hutchison Telecommunications Hong Kong Holdings Ltd, will deliver theoretical internet download speeds of up to 100 megabits per second and initially cover about 90 percent of the city. Full local coverage is expected in the third quarter. HONG KONG ECONOMIC TIMES -- Chinese property developer Guangzhou R&F Properties Co Ltd said contract sales for the first four months totalled 9.53 billion yuan ($1.51 billion), 29.8 percent of its full-year target. THE STANDARD -- China City Railway Transportation, a Beijing-based provider of electronic components to railway operators, is expected to raise up to HK$246 million in its Growth Enterprise Market listing in Hong Kong, with trading to start on May 16. WEN WEI PO -- Chinese property developer Kaisa Group Holdings Ltd said contract sales for the first four months totalled 3.7 billion yuan, up 111 percent from a year earlier. For Chinese newspapers, see............... For Taiwan newspapers, see................ ($1 = 7.7581 Hong Kong dollars) ($1 = 6.3070 Chinese yuan) (Reporting by Twinnie Siu; Editing by Chris Lewis) Link this Share this Digg this Email Reprints

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