Date
21 April 2018

HKEJ

Hong Kong Economic Journal
  • Norman Chan says recent developments will strengthen Hong Kong's status as a renminbi center. Photo: HK Govt

    HKMA gears up for more traffic after mutual recognition of funds

    - Jun 10, 2015 11:52am
    The Hong Kong Monetary Authority is developing its clearing and settlement platform in preparation for a potential increase in cross-border capital flows through funds eligible for mutual recognition. It is necessary to ensure a wide, safe and sound...
  • Billionaire Li Ka-shing (left), with his top lieutenant Canning Fok, is selling some of his Hong Kong assets. Photo: HKEJ

    Qatar fund to buy 19.9% stake in HK Electric for HK$9.25 bln

    - Jun 10, 2015 11:45am
    The Qatar Investment Authority will acquire a 19.9 percent stake in billionaire Li Ka-shing’s electric utility for HK$9.25 billion, the Hong Kong Economic Journal reported on Wednesday. The investment will make the Gulf state’s sovereign wealth...
  • HSBC is aiming to cut costs by up to US$5 billion a year and ensure a 10 percent return on equity by 2017. Photo: Bloomberg

    HSBC spares Hong Kong jobs in sweeping revamp

    - Jun 10, 2015 11:40am
    HSBC Holdings Plc. (00005.HK) has no plans to cut any more jobs in Hong Kong. It will maintain its Hong Kong headcount in line with its expansion plans in the Pearl River delta, the Hong Kong...
  • Shimao chairman Hui Wing-mau (left), shown with son Jason Hui Sai-tan, says the 1,200-room hotel is expected to generate a 5-6 percent return. Photo: HKEJ

    Shimao Property to invest HK$5 bln in Tung Chung hotel project

    - Jun 9, 2015 12:56pm
    Shimao Property Holdings Ltd. (00813.HK) is pouring HK$4 billion (US$514 million) to HK$5 billion into a hotel development in Tung Chung. The company won the site for HK$1.83 billion in a public auction last year in a...
  • Legend Holdings founder Liu Chunchi is preparing for another milestone in his group's history. Photo: HKEJ

    Lenovo parent to seek US$2 bln in Hong Kong listing

    - Jun 9, 2015 11:51am
    Legend Holdings, the parent company of Lenovo Group (00992.HK), is seeking US$2 billion from a Hong Kong listing that could value the company in the 73.2 billion to 101.5 billion yuan range. The valuation represents a...
  • SHKP deputy managing director Lui Ting (left) said the first batch of 52 units is expected to generate HK$3 billion. Photo: HKEJ

    Ho Man Tin luxury home project selling for HK$36,600 per sq ft

    - Jun 9, 2015 11:46am
    A new luxury residential project in Ho Man Tin is selling for an average of HK$36,600 per square foot, or HK$32,000 after a maximum discount of 12.5 percent, the Hong Kong Economic Journal reported Tuesday. The discounted...
  • Franco Ngan (left) and Terry Pan (right)  have contrasting views about Chinese expectations regarding fund yields. Photo: HKEJ

    Mutual recognition deal to spur China fund inflow

    - Jun 8, 2015 11:43am
    An impending cross-border agreement on mutual recognition of funds is likely to spur more investment flows to mainland China than Hong Kong initially, the Hong Kong Economic Journal reported Monday. These will be driven by increased demand for...
  • Container trucks have been using the car park designated for the proposed shopping mall in Lok Ma Chau. Photo: HKEJ

    Lok Ma Chau border shopping mall faces roadblock

    - Jun 8, 2015 11:24am
    The proposed Lok Ma Chau border shopping mall may reach a dead end because of the difficulty assembling land parcels and opposition from residents of nearby San Tin, the Hong Kong Economic Journal reported Monday.  There have also...
  • David Chow says China's slowing economy, rather than Beijing's anti-graft campaign, is the real factor dragging on Macau's gaming industry. Photo: HKEJ

    Time for junket operators to change role, says gaming veteran

    - Jun 8, 2015 11:24am
    It’s about time junket operators changed their role from intermediaries for VIP rooms to regular staffers of casinos, an industry expert said. David Chow Kam-fai, chairman and chief executive of casino operator Macau Legend Development Ltd. (01680.HK), said...
  • Man Mo Temple (right) would have been obscured by the Sheung Wan Youth Hostel (left) under its original design. Photo: Development Bureau

    Sheung Wan youth hostel faces one-year delay

    - Jun 5, 2015 5:44pm
    Sheung Wan Youth Hostel is facing delay after the government rejected its structural design. Tung Wah Group of Hospitals, which is building the project, said it will change the original plan to comply with government height...
  • Digital Domain Holdings has issued a clarification to the Hong Kong stock exchange after being linked to an investigation in the mainland. Photo: Internet

    Digital Domain moves to stem share plunge

    - Jun 5, 2015 11:57am
    Investment holding company Digital Domain Holdings Ltd. (00547.HK) moved to put a floor under its spiralling stock price after being linked to an investigation in the mainland. The investigation involves bondholder Che Feng, the Hong Kong Economic Journal...
  • Sinopec Kantons chairman Chen Bo says the company is seeking to acquire more assets from its parent. Photo: HKEJ

    Sinopec Kantons eyes parent’s Qingdao LNG depot

    - Jun 5, 2015 11:53am
    Sinopec Kantons Holdings Ltd. (00934.HK), the storage and logistics arm of petrochemical giant China Petroleum & Chemical Corp. (Sinopec, 00386.HK), is seeking to acquire a natural gas project from its parent, the Hong Kong Economic Journal reported...
  • Macau's gaming industry could head for better times following the opening of new family-friendly resorts. Photo: Bloomberg

    Macau gaming revenue seen improving on new resorts

    - Jun 5, 2015 10:36am
    Macau’s gaming revenue could improve going forward after falling for the 12th straight month in May, according to some industry observers and analysts. While the industry’s overall gross revenue fell 37 percent from a year earlier last...
  • Hoffman Ma says Success Universe Group will focus on its investments in travel agencies and casinos. Photo: HKEJ

    HK group sees online lottery revenue dry up after China ban

    - Jun 4, 2015 11:30am
    Success Universe Group Ltd. (00487.HK), which invests in casinos and travel agencies, is hurting from a ban on online lottery in mainland China, the Hong Kong Economic Journal reported Thursday. The company made HK$201 million (US$25.92 million)...
  • The late Taiwanese singer Teresa Tang is shown on stage in a virtual performance last month through the magic of 3D technology from Digital Domain. Photo: Chinanews.com

    Digital Domain denies negative rumors after share plunge

    - Jun 4, 2015 11:03am
    Digital Domain Holdings Ltd. (00547.HK), an entertainment media and property investment group, has denied rumors about the company after its share price fell as much as 60 percent on Wednesday. Managing director Zhu Xi dismissed media reports...
  • HKMA's Arthur Yuen has urged banks to review their mortgage portfolios in order to curb risks. Photo: HKEJ

    HKMA takes stronger stance on bank mortgage reviews

    - Jun 4, 2015 10:20am
    The Hong Kong Monetary Authority (HKMA) is urging lenders to review their mortgage portfolios to ensure that none of their clients have taken second mortgages. Calling for stronger risk controls, HKMA deputy chief executive Arthur Yuen Kwok-hang said banks can...
  • Jewelry, watches and luxury gifts are the hardest in Hong Kong's faltering retail sales. Photo: HKEJ

    Hong Kong retail sales fall for second straight month

    - Jun 3, 2015 11:27am
    Hong Kong retail sales have fallen for a second straight month amid fewer visitors, with jewelry, watches and luxury gifts the hardest hit. April retail sales were HK$38 billion (US$4.9 billion), down 2.2 percent from a year earlier, while...
  • Johnson Ko says he may give up the chairman's post at ReOrient Group. Photo: HKEJ

    Johnson Ko indicates he may step down as ReOrient chairman

    - Jun 3, 2015 11:23am
    Securities industry veteran Johnson Ko Chun-shun said he might step down from the chairman’s post at ReOrient Group Ltd. (00376.HK) after an 18-month share lockup period expires, the Hong Kong Economic Journal reported Wednesday. ReOrient Group, which is...
  • Lee Shau-kee (left), seen with his two sons, plans to donate four land parcels for subsidized housing and homes for the elderly and for youth. Photo: HKEJ

    Property stocks yield more than properties: Lee Shau-kee

    - Jun 3, 2015 11:09am
    Lee Shau-kee has shifted his investment focus to property stocks in anticipation of further rallies in the stock market, the Hong Kong Economic Journal reported Wednesday. “It is better to purchase stocks of property developers rather than their property developments,”...
  • Mo Cuitian (second from left) has lofty ambitions for LeTV in Hong Kong. Photo: HKEJ

    Mainland network LeTV aims to be No. 2 pay-TV station in HK

    - Jun 2, 2015 12:15pm
    LeTV, the largest online television network in mainland China, has pledged to pour HK$6 billion in the coming three years to produce and buy content for Hong Kong, the Hong Kong Economic Journal reported Tuesday. The internet TV operator...

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