PRESS DIGEST-Hong Kong - March 16
HONG KONG, March 16 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Monday. Reuters has not verified these stories and does not vouch for their accuracy.
SOUTH CHINA MORNING POST
-- China's annual consumer rights gala has slammed foreign carmakers, including Mercedes, Volkswagen, Range Rover and Nissan, for poor vehicle quality and aftersales service. The programme, 315 Gala, which CCTV broadcasts on every March 15, is popular on the mainland because most of the show's allegations are followed by government action. (http://bit.ly/1LgBiWi)
-- Society is becoming more divided over political reform, with a Chinese University poll showing a narrowing gap between those who accept a reform package for the 2017 chief executive election even if it is based on Beijing's framework, and those who reject it. (http://bit.ly/1HUVk39)
THE STANDARD
-- Core profit at Wharf Holdings fell 7 percent to HK$10.5 billion ($1.35 billion) in the past year, dropping below the lower end of market expectations. That came amid the mainland property market woes that ate into the real estate firm's profit margin. (http://bit.ly/1HUVTde)
-- Developers rolled out new flats at higher prices over the weekend, encouraged by the recent keen interest in new homes. This comes after tighter mortgage rules made purchasing flats in the resale market more difficult. Cheung Kong put the last 32 flats at La Lumiere on the market after clearing all 76 units in its Saturday sales, 75 of which went in less than an hour. (http://bit.ly/1GTmSIu)
HONG KONG ECONOMIC JOURNAL
-- China Mobile Ltd is forecast to post a decline in yearly profit of between 9.37 percent and 14.41 percent partly due to market competition, while discounts and subsidies also weigh on its earnings, according to analysts.
HONG KONG ECONOMIC TIMES
-- Chinese internet firm Tencent Holdings Ltd is expected to report strong growth in its yearly profit, rising between 53 percent and 65 percent, boosted by increasing revenues from advertising and mobile games, according to analysts.
For Chinese newspapers, see............... ($1 = 7.7671 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Prateek Chatterjee)
