Advertisement
Advertisement
Emperor Group may quit Russell Street in Causeway Bay, Apple Daily reports. Photo: K. Y. Cheng

PRESS DIGEST - Top stories in Hong Kong and mainland China newspapers on March 30

These are the leading stories in Hong Kong and mainland Chinese newspapers and websites on Monday. The South China Morning Post has not verified these stories.

 

Chinachem may sell a 23.09 per cent stake in Dan Form Holdings, a company its former chairwoman, the late Nina Wang, had invested in which recently cashed in more than HK$1.5 billion on the re-opening of the sale of Redhill Peninsula. Hedge funds are vying to acquire Chinachem’s stake and the 36.31 per cent stake currently belonging to Dan Form chairman Dai Xiaoming, the largest shareholder. The third-largest shareholder, Sinotrans & CSC, with a 5.96 per cent stake is said to be looking to sell its stake too according to sources. (Ming Pao)

 

Emperor Group may give up its spot on the world’s most expensive retail street – Russell Street in Causeway Bay – as Hong Kong’s luxury retail sector slumps. Sources say the company is not planning to renew the lease for its Emperor Watch and Jewellery shop at the intersection of Russell and Percival streets with the landlord – a lease it has had for 12 years. The company said it could only confirm its monthly contract of HK$250 million would expire in September. (Apple Daily)

 

A-Shares are hot with Hong Kong investors after rising 80 per cent since the middle of last year. Nikko Asset Management said it is creating 20 per cent to 30 per cent more jobs this year targeting that market. A-Share fund products comprised 10 per cent of Hong Kong’s record US$77.7 billion fund product sales last year. (Hong Kong Economic Times).

 

The founder of a website specialising in publicising and recovering Macau casino debts is being sued by the Macau government for infringement of privacy. The website, Wonderful World, founded in August 2013, has reportedly collected HK$2 billion so far as Macau’s gaming business suffers a slump. (Hong Kong Economic Journal)

Post