Our editors will be looking ahead today to these developing stories ...
Mong Kok Bird Garden reopens
The Bird Garden in Mong Kok's Yuen Po Street reopens. The market was closed on July 5 following the discovery of H5N1, the virus that causes bird flu, in samples taken from a stallholder's cages. More than 1,000 birds were destroyed. Stall owners are seeking compensation of up to HK$40,000 each for the loss of trade during the three-week closure. There are 18 stalls in the garden, with more than 10,000 birds for sale. Most of the birds come from Malaysia, with some from Taiwan and the Philippines.
Dual listing for Malaysian hospital group
Asia's top hospital operator, Malaysia's IHH Healthcare, starts trading on the stock exchanges of Malaysia and Singapore, with an expected capitalisation of 23 billion ringgit (HK$56.2 billion), according to Bloomberg. Its operations and investments span much of Asia, according to the prospectus. Along with last month's Felda IPO in Kuala Lumpur, the IHH offering has lifted Bursa Malaysia above the Hong Kong stock exchange as Asia's largest market for international listings by value, the Financial Times reports.
Singapore pastor goes on trial for fraud
The founder of one of Singapore's biggest and wealthiest churches appears in court charged with defrauding his 30,000-member congregation of US$18 million. Pastor Kong Hee (left) and four senior executives of the City Harvest Church - a Christian group registered as a charity - were arrested by a police unit set up to fight financial crime. Officials said the five were suspected of diverting S$23 million (HK$139.26 million) earmarked for charity and spending money on an attempt by the pastor's wife to launch an evangelical music career in the US.
