June 18 (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.
Financials
SOUTH CHINA MORNING POST
-- Hong Kong plans to roll out a new immigration investment scheme under which millionaires who buy a HK$6.5 million ($835,300) approved investment-linked insurance policy will receive Hong Kong identity cards for themselves and their families, people familiar with the policy said.
-- The Trade Development Council has revised its forecast for Hong Kong's export growth to 12 percent this year, up from 5 percent, because of a faster-than-expected recovery in intra-Asian trade and robust demand for electronics products, despite mounting labour costs and uncertainty in Europe and United States, according to TDC economist Edward Leung.
HONG KONG ECONOMIC JOURNAL
-- Property developer China South City Holdings (1668.HK) said it expected to record a significant increase in profit for the year ended in March 2010 as property sales increased.
-- China Life Insurance (2628.HK)(601628.SS) said accumulated premium income totalled 154.9 billion yuan ($22.68 billion) in the first five months of 2010, up 6.39 percent from the same period a year earlier.
HONG KONG ECONOMIC TIMES
-- The retail portion of the initial public share offering of medical equipment provider Trauson Holdings (0325.HK) was seen six times oversubscribed, while financial services firm Guotai Junan is expected to raise up to HK$3.12 billion ($400 million) in an IPO with shares priced between HK$23.40 and HK$31.20 each.
MING PAO
-- Waster water treatment solution provider Sound Global (SOGL.SI) is expected to sell 261 million shares in its Hong Kong IPO, raising capital to fund the acquisition of waste water treatment projects. Its shares were expected to begin trading on July 6, according preliminary listing document.
ORIENTAL DAILY
-- Sun Hung Kai Properties (0016.HK), which earlier this month bought a prime site in Hong Kong for HK$10.9 billion ($1.4 billion) for residential development in a land auction, planned to bid for a site in Shanghai with an opening bid of about 3.4 billion yuan ($497.9 million), according to mainland media reports.
WEN WEI PO
-- Henderson Land (0012.HK) planned to acquire a site in Beijing's central business district for a commercial project and may postpone sales of projects in second- and third-tier mainland cities in anticipation of possible further government measures to regulate the property market, according to Executive Vice-Chairman Lee Ka-kit.
From Reuters published on June 18, 2010
