PRESS DIGEST-Hong Kong - Oct 28

Reuters

Oct 28 (Reuters) - These are some of the leading stories inHong Kong newspapers on Monday. Reuters has not verified thesestories and does not vouch for their accuracy.

SOUTH CHINA MORNING POST

-- Alibaba Group founder Jack Ma Yun says he misjudgedattitudes towards his company in his failed bid to sell sharesin Hong Kong and that he wants to improve the understanding ofhis business in the city - a fresh sign to some that thepotential HK$100 billion ($12.90 billion) deal may yet be donehere. ()

-- ASB Biodiesel, the developer of Hong Kong's largestbiodiesel plant, has renewed its call for the mandatory blendingof biodiesel into diesel products sold in the city as a means tojump-start a market for the cleaner burning fuel. ()

-- Hang Lung's release of 40 units at its luxuryLong Beach project, offering at up to 18 percent discount, hadreceived strong response and the developer had increased thesize of the launch to 80 and adopt a ballot rather than itsannounced "first come, first served" policy. ()

THE STANDARD

-- China's large industrial enterprises posted total netprofit of 4.05 trillion yuan ($665.68 billion) in the first ninemonths, up 13.5 percent from a year earlier, according toNational Bureau of Statistics. The net profit growth forJan-Sept period exceeded that of Jan-Aug by 0.7 percentagepoints due to falling costs in September. ()

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-- Shares of Chong Hing Bank are expected to seeresistance at about HK$40 in the wake of Yue Xiu Group's bid toacquire a 75 percent stake at HK$35.69 per share plus a specialdividend of HK$4.52 each, which would translate to a price tagof HK$40.21 per share. ()

HONG KONG ECONOMIC JOURNAL

-- U.S. water filter manufacturer Seychelle EnvironmentalTechnologies Inc plans to seek a listing in Hong Kongwithin the next two year, raising up to $10 million to fund itsexpansion and construction of new manufacturing facilities inChina, according to founder and president Carl Palmer.

HONG KONG ECONOMIC TIMES

-- Guangzhou-based newspaper New Express published anapology on its front page on Sunday, admitting that it had notthoroughly fact-checked a disparaging report on Zoomlion HeavyIndustry Science and Technology Co Ltd after its detained reporter confessed to accepting payment inexchange for disparaging the Chinese state-owned constructionequipment maker.

For Chinese newspapers, see...............

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