PRESS DIGEST-Hong Kong - Oct 28
Oct 28 (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
-- Alibaba Group founder Jack Ma Yun says he misjudged attitudes towards his company in his failed bid to sell shares in Hong Kong and that he wants to improve the understanding of his business in the city - a fresh sign to some that the potential HK$100 billion ($12.90 billion) deal may yet be done here. ()
-- ASB Biodiesel, the developer of Hong Kong's largest biodiesel plant, has renewed its call for the mandatory blending of biodiesel into diesel products sold in the city as a means to jump-start a market for the cleaner burning fuel. ()
-- Hang Lung's release of 40 units at its luxury Long Beach project, offering at up to 18 percent discount, had received strong response and the developer had increased the size of the launch to 80 and adopt a ballot rather than its announced "first come, first served" policy. ()
THE STANDARD
-- China's large industrial enterprises posted total net profit of 4.05 trillion yuan ($665.68 billion) in the first nine months, up 13.5 percent from a year earlier, according to National Bureau of Statistics. The net profit growth for Jan-Sept period exceeded that of Jan-Aug by 0.7 percentage points due to falling costs in September. ()
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-- Shares of Chong Hing Bank are expected to see resistance at about HK$40 in the wake of Yue Xiu Group's bid to acquire a 75 percent stake at HK$35.69 per share plus a special dividend of HK$4.52 each, which would translate to a price tag of HK$40.21 per share. ()
HONG KONG ECONOMIC JOURNAL
-- U.S. water filter manufacturer Seychelle Environmental Technologies Inc plans to seek a listing in Hong Kong within the next two year, raising up to $10 million to fund its expansion and construction of new manufacturing facilities in China, according to founder and president Carl Palmer.
HONG KONG ECONOMIC TIMES
-- Guangzhou-based newspaper New Express published an apology on its front page on Sunday, admitting that it had not thoroughly fact-checked a disparaging report on Zoomlion Heavy Industry Science and Technology Co Ltd after its detained reporter confessed to accepting payment in exchange for disparaging the Chinese state-owned construction equipment maker.
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