REVERED for their respective devotion to the destitute and democracy, Mother Teresa and Mrs Corazon Aquino clasped hands yesterday in mutual congratulations after receiving honorary degrees from the University of Hongkong. Former Philippine president Mrs Aquino was awarded an honorary doctorate degree of laws in recognition of her services to politics and government, while Mother Teresa, champion of the needy, received a degree in social sciences. Obviously delighted, Mrs Aquino said Mother Teresa had told her after the ceremony at a packed ceremony at the City Hall that she would pray for her every day. Mother Teresa was heard spreading her message of goodwill with the catch phrase ''TLC'' - tender, loving care. Former Singapore deputy prime minister and leading economist Dr Goh Keng Swee was awarded a doctorate of letters for his services to the Asian economy. Professor Yang Xianyi of China received a degree of letters for his contribution to literature and history (see Page 10). The recipients from around Asia were recognised for their contributions to the advancement of learning and the betterment of the human condition, the university's Vice-Chancellor, Professor Wang Gungwu, said. The awards were part of the university's 80th anniversary celebrations.