Search

Asia Pulp & Paper Co. has reportedly entered the bidding for a stake in Vinda International Holdings Ltd., a Hong Kong-listed tissue maker. The Indonesian pulp producer has submitted a preliminary proposal to buy Vinda stock from its majority owner, Essity AB, at a price of over HK$20 per share. APP already sells tissues in China under various brands. Other potential suitors may also emerge, and there is no certainty that APP will proceed with a binding bid. Vinda owns one of China's top tissue brands and also produces products for feminine care, baby care, and incontinence. [Extracted from the article]

(Bloomberg) -- Hong Kong has been struggling with a shortage of face masks to protect against the coronavirus outbreak. Vinda International Holdings, a Hong Kong-listed toilet paper producer, didn't immediately respond to a request for comment on Thursday, nor did some of Hong Kong's supermarket chains. [Extracted from the article]

(Bloomberg) -- Hong Kong has been struggling with a shortage of face masks to protect against the coronavirus outbreak. Vinda International Holdings, a Hong Kong-listed toilet paper producer, didn't immediately respond to a request for comment sent after office hours, nor did some of Hong Kong's supermarket chains. [Extracted from the article]

(Bloomberg) -- Hong Kong has been struggling with a shortage of face masks to protect against the coronavirus outbreak. The group said in an emailed statement that "tight supply" of toilet paper in Hong Kong supermarkets may have been due to leave taken by logistics workers over the Lunar New Year holiday, but that those people are returning to work. [Extracted from the article]

(Bloomberg) -- In the high-stakes world of gift giving in Asia's financial hubs, Montblanc pens and leather folios are out -- toilet paper and surgical masks are most definitely in. The Singapore arm of online trading provider IG Group went viral after handing out party packs with 3M Co. N95 face masks, digital thermometers and bottles of Dettol antiseptic. [Extracted from the article]

(Bloomberg) -- Chinese question-and-answer website Zhihu Inc., which went public in the U.S. in March this year, is said to be considering another initial public offering in Hong Kong, local media the Paper reported Saturday. Zhihu told the Paper an ownership change is standard practice for Chinese companies that list overseas, and the major shareholders and their stakes in the company are unchanged. [Extracted from the article]

(Bloomberg) -- Hong Kong has received the first access to financial audits from mainland Chinese companies, an issue that has vexed relations between the U.S. and China and threatens to lead to the delisting in New York of giants such as Alibaba Group Holding Ltd. As part of a 2019 understanding with the Chinese Finance Ministry, the Hong Kong Financial Reporting Council has now obtained the first batch of audit papers from mainland China, becoming the first offshore regulator to break through the state secrecy barrier. [Extracted from the article]

(Bloomberg) -- Hong Kong authorities are deliberating whether to curtail public access to the messaging service Telegram, the Sing Tao Daily reported, potentially reviving fears the former British colony is moving closer toward Beijing-style internet controls. In September, Hong Kong strengthened data privacy laws to prevent doxxing, a move that spooked big tech giants. [Extracted from the article]

In September, Hong Kong strengthened data privacy laws to prevent doxxing, a move that spooked big tech giants. (Bloomberg) -- Hong Kong authorities are deliberating whether to curtail public access to the messaging service Telegram, the Sing Tao Daily reported, potentially reviving fears the former British colony is moving closer toward Beijing-style internet controls. [Extracted from the article]

Blocking internet sites or apps often requires the cooperation of local service providers, such as in 2021 when Hong Kong police invoked the national security law to block access to HKChronicles. (Bloomberg) -- Hong Kong authorities are deliberating whether to curtail public access to the messaging service Telegram, the Sing Tao Daily reported, potentially reviving fears the former British colony is moving closer toward Beijing-style internet controls. [Extracted from the article]

On Thursday, Hong Kong police arrested five senior staff at the media organization and froze HK$18 million ($2.3 million) in company assets. (Bloomberg) -- The board of Next Digital Ltd., which publishes Hong Kong's Apple Daily, will meet on Monday to decide whether to shut down the pro-democracy newspaper, according to a top adviser to owner Jimmy Lai, after police arrested top editors and froze its bank accounts. [Extracted from the article]

A paper tycoon and his wife are reported to have made Hong Kong's most expensive luxury property purchase this year, paying HK$1.45 billion ($180 million) for a nine-apartment complex in Repulse Bay. The deal comes as Hong Kong's property market makes a comeback: prices have climbed for 10 straight weeks, rebounding from a slide that began last August. [Extracted from the article]

(Bloomberg) -- Hong Kong will have to achieve a vaccination rate of at least 80% before it will consider reopening its borders to mainland China and the international community thereafter, The Standard reported, citing a top government official. Hong Kong has been working toward the reopening of the border with mainland China as both continue to enforce a Covid-Zero strategy of eliminating the virus within their borders. [Extracted from the article]

(Bloomberg) -- Next Digital Ltd. plans to stop publishing Apple Daily later this week if authorities don't allow access to its bank accounts, and will make a final decision on Friday, the pro-democracy newspaper reported on Monday. The newspaper, which cheered on Hong Kong's unprecedented pro-democracy protests in 2019, has been under increasing pressure since China imposed a national security law on the city last year. [Extracted from the article]

The newspaper, which cheered on Hong Kong's unprecedented pro-democracy protests in 2019, has been under increasing pressure since China imposed a national security law on the city last year. (Bloomberg) -- Next Digital Ltd. plans to stop publishing Apple Daily later this week if authorities don't allow access to its bank accounts, and will make a final decision on Friday, the pro-democracy newspaper reported on Monday. [Extracted from the article]

The newspaper, which cheered on Hong Kong's unprecedented pro-democracy protests in 2019, has been under increasing pressure since China imposed a national security law on the city last year. (Bloomberg) -- The board of Next Digital Ltd. is meeting on Monday to decide whether to shut down the pro-democracy Apple Daily newspaper it publishes, according to a top adviser to owner Jimmy Lai, after police in Hong Kong arrested top editors and froze its bank accounts last week. [Extracted from the article]

(Bloomberg) -- China replaced the head of its top agency overseeing Hong Kong, in the latest shakeup after months of anti-government protests in the Asian financial hub. Zhang Xiaoming will be replaced as director of the Hong Kong & Macau Affairs Office by top national political adviser Xia Baolong, China's State Council said in a statement Thursday. [Extracted from the article]

(Bloomberg) -- China replaced the head of its top agency overseeing Hong Kong, in the latest shakeup after months of anti-government protests in the Asian financial hub. Zhang Xiaoming will be replaced as director of the Hong Kong & Macau Affairs Office by top national political adviser Xia Baolong, China's State Council said in a statement Thursday. [Extracted from the article]

(Bloomberg) -- The board of Next Digital Ltd., which publishes Hong Kong's Apple Daily, will meet on Monday to decide whether to shut down the pro-democracy newspaper, according to a top adviser to owner Jimmy Lai, after police arrested top editors and froze its bank accounts. Hong Kong national security officials are preventing the newspaper from accessing its bank accounts, and it may need to close its print and digital operations unless authorities allow access to the funds, said Mark Simon, a top adviser to Lai. Companies that regularly do business with the newspaper tried to deposit money in its accounts on Friday but were prevented from doing so, he said. [Extracted from the article]

Xia Baolong, 67, the vice chairman of the Chinese People's Political Consultative Conference, will replace Zhang Xiaoming as director of the Hong Kong & Macau Affairs Office, the State Council said Thursday. "The reshuffling at this interesting moment may point to a deep distrust from Xi Jinping toward the former faction dealing with Hong Kong affairs", said Sonny Lo, a Hong Kong-based academic and political commentator. [Extracted from the article]

(Bloomberg) -- China named an official known for tearing crosses from the roofs of churches to lead the agency that oversees Hong Kong, in the biggest shakeup yet after months of unrest. "The reshuffling at this interesting moment may point to a deep distrust from Xi Jinping toward the former faction dealing with Hong Kong affairs", said Sonny Lo, a Hong Kong-based academic and political commentator. [Extracted from the article]

Hong Kong companies, which are often family-run, have been using various means to artificially inflate their share prices, according to Jie Gan, a Hong Kong-based finance professor at Beijing's Cheung Kong Graduate School of Business, who was speaking generally. The paper billionaires' companies were dropped from the indexes compiled by FTSE Russell, MSCI Inc. and Hong Kong's Hang Seng, when they began announcing in 2015 that companies flagged by Hong Kong's regulator would no longer be eligible. [Extracted from the article]

Prices closed at 51.23 yuan a metric ton at the end of trading Friday, with 4.1 million tons of trades conducted, according to the official WeChat account of the carbon market. Keywords: 386@HK; 836@HK; 857@HK; VRSK; ALTNRG; ASIA; BASIC; BUSINESS; CHINA; CHM; CLIMATE; CMD; COS; ELC; EUROPE; GOV; HK; INDUSTRIES; MARKETS; NRG; OIL; UTI; WORLD EN 386@HK 836@HK 857@HK VRSK ALTNRG ASIA BASIC BUSINESS CHINA CHM CLIMATE CMD COS ELC EUROPE GOV HK INDUSTRIES MARKETS NRG OIL UTI WORLD China's national carbon market opened with a flurry of trades that sent prices surging, yet it'll be years before the system helps the top polluting nation curb its emissions. [Extracted from the article]

Keywords: 386@HK; 836@HK; 857@HK; VRSK; ALTNRG; ASIA; BASIC; BUSINESS; CHINA; CHM; CLIMATE; CMD; COS; ELC; EUROPE; GOV; HK; INDUSTRIES; MARKETS; NRG; OIL; UTI; WORLD EN 386@HK 836@HK 857@HK VRSK ALTNRG ASIA BASIC BUSINESS CHINA CHM CLIMATE CMD COS ELC EUROPE GOV HK INDUSTRIES MARKETS NRG OIL UTI WORLD China's national carbon market opened with a flurry of trades that sent prices surging, yet it'll be years before the system helps the top polluting nation curb its emissions. Prices closed at 51.23 yuan a metric ton at the end of trading Friday, with 4.1 million tons of trades conducted, according to the official WeChat account of the carbon market. [Extracted from the article]

The decision to prioritize a carbon market over more stringent targets for industrial polluters reflects China's efforts to balance climate ambitions and growth. Keywords: 386@HK; 836@HK; 857@HK; VRSK; ALTNRG; ASIA; BASIC; BUSINESS; CHINA; CHM; CLIMATE; CMD; COS; ELC; EUROPE; GOV; HK; INDUSTRIES; MARKETS; NRG; OIL; UTI; WORLD EN 386@HK 836@HK 857@HK VRSK ALTNRG ASIA BASIC BUSINESS CHINA CHM CLIMATE CMD COS ELC EUROPE GOV HK INDUSTRIES MARKETS NRG OIL UTI WORLD China's national carbon market opened with a flurry of trades that sent prices surging, yet it'll be years before the system helps the top polluting nation curb its emissions. [Extracted from the article]

Keywords: 10182Z; 1710Z@SW; 3240627Z; 340949Z; 5091Z; BABA; BIDU; JD; NTES; YUMC; ALLTOP; ASIA; BUSINESS; CHINA; CONS; CONSD; COS; GOV; HAR; HK; INDUSTRIES; INTERNET; MARKETS; NORTHAM; STK; SVC; TEC; TMT; TOP; US; WORLD; WWTOP; WWTOPAM; WWTOPAS EN 10182Z 1710Z@SW 3240627Z 340949Z 5091Z BABA BIDU JD NTES YUMC ALLTOP ASIA BUSINESS CHINA CONS CONSD COS GOV HAR HK INDUSTRIES INTERNET MARKETS NORTHAM STK SVC TEC TMT TOP US WORLD WWTOP WWTOPAM WWTOPAS US regulators have picked companies including Alibaba Group Holding Ltd. and Netease Inc. in the first batch of inspections after reaching a deal with China to end a decades-long impasse over access to audit papers of Chinese firms listed in New York. A Deloitte spokeswoman said the firm doesn't comment on clients or on any specific company's matters. Unlike multiple state-owned firms that are voluntarily exiting New York exchanges, they're also privately controlled firms with powerful American investors. [Extracted from the article]

A Deloitte spokeswoman said the firm doesn't comment on clients or on any specific company's matters. Keywords: 10182Z; 1710Z@SW; 3240627Z; 340949Z; 5091Z; BABA; BIDU; JD; NTES; YUMC; ALLTOP; ASIA; ASIATOP; BUSINESS; CHINA; CONS; CONSD; COS; GOV; HAR; HK; INDUSTRIES; INTERNET; MARKETS; NORTHAM; STK; SVC; TEC; TMT; TOP; US; WORLD; WWTOP; WWTOPAM; WWTOPAS EN 10182Z 1710Z@SW 3240627Z 340949Z 5091Z BABA BIDU JD NTES YUMC ALLTOP ASIA ASIATOP BUSINESS CHINA CONS CONSD COS GOV HAR HK INDUSTRIES INTERNET MARKETS NORTHAM STK SVC TEC TMT TOP US WORLD WWTOP WWTOPAM WWTOPAS US regulators have picked companies including Alibaba Group Holding Ltd. and Netease Inc. in the first batch of inspections after reaching a deal with China to end a decades-long impasse over access to audit papers of Chinese firms listed in New York. The audit firms are summoning relevant staff back to Hong Kong, preparing top management, IT and internal control teams to greet the inspection team. [Extracted from the article]

(Bloomberg) -- The suspect in a Taiwan murder case that sparked Hong Kong's biggest political crisis in decades is willing to turn himself in to Taiwanese authorities, a Hong Kong newspaper reported. Chan Tong-kai, a Hong Kong man who has been accused of killing his pregnant girlfriend during a Valentine's Day trip to Taiwan, is ready to return to the island and surrender after his release from jail on a related money-laundering charge, the Sing Tao Daily reported Friday. "The pastor eventually convinced him to agree in principle to surrender himself in Taiwan, although Chan hoped that he would not be sentenced to death by Taiwan authorities", the newspaper said. [Extracted from the article]

(Bloomberg) -- The Communist Party's flagship newspaper criticized Apple Inc's decision to approve an app that shows police activity in Hong Kong and to allow its iTunes store to carry a song that's become a rallying cry for demonstrators in the midst of increasingly violent pro-democracy protests. The change was implemented via software on iPhones sold in Hong Kong and Macau after Apple released new versions of its iOS 13 operating system. [Extracted from the article]

(Bloomberg) -- Hong Kong plans to expand scrutiny on capital flows and transactions by Chinese officials, according to a recent consultation paper on anti-money laundering. As part of the proposals, Hong Kong seeks to tighten requirements for virtual asset trading operations and introduce a two-tier registration regime for business dealings in precious-asset-based instruments, according to the consultation paper. [Extracted from the article]

According to a survey by Bank of America Corp., concerns about a systemic credit event are increasing among fund managers due to issues in global property markets. About one in six respondents consider this to be the biggest risk facing markets, up from one in eleven in December. The disquiet is particularly focused on US commercial real estate and Chinese property markets. The Federal Reserve's potential interest rate cuts to alleviate pressure on real estate have been hindered by higher-than-expected inflation numbers. Smaller banks are at risk of default rates in their commercial real estate loan books, while larger banks are considered more stable. A 10% default rate on commercial real estate loans could result in $80 billion in additional bank losses, leaving over 300 smaller regional banks at risk of solvency runs. The Federal Reserve is working with lenders to address expected losses, and regulators are ensuring that loan-loss reserves and liquidity levels are sufficient. The survey found that nearly 40% of fund managers see US commercial real estate as the most likely source of a credit event, while 22% see Chinese real estate as the biggest threat. The turmoil has also affected German lenders with exposure to US commercial real estate. [Extracted from the article]

The Hong Kong Monetary Authority proposed to increase the amount of savings covered by the government guarantee in the event of bank failure to HK$800,000 ($102,272) per depositor at each Hong Kong bank, up from HK$500,000, a consultation paper showed Thursday. (Bloomberg) -- Hong Kong plans to raise the maximum protection on bank deposits in a move designed to better shield people during times of severe stress. [Extracted from the article]

(Bloomberg) -- Hong Kong should step up regulation of internet security as a lack of coordination and comprehensive scrutiny on service providers has created loopholes, Ming Pao reported, citing Deputy Police Commissioner Edwina Lau Chi-wai. Hong Kong has no room for "lying flat" as the city may become a battlefield of geo-politics, Lau said, explaining the need to defend internet security, the paper said. [Extracted from the article]

(Bloomberg) -- Hong Kong is set to announce that retail investors can trade crypto under its new rulebook for the sector, stepping up a push to develop a hub even as digital-asset firms and regulators clash elsewhere in Asia. Hong Kong in February outlined in its consultation paper a plan to let individual investors trade larger coins on exchanges licensed by the SFC. [Extracted from the article]

A team will be assigned to the auditing file of each company to review the most recent financial documents, check internal control systems and interview audit personnel, two people familiar with the matter said earlier. Audit inspections of publicly traded firms in the US were mandated by law in 2002, but China has long denied giving full access despite there being hundreds of listed Chinese firms worth more than a $1 trillion. [Extracted from the article]

(Bloomberg) -- Talks between Beijing and Washington to avoid the delisting of about 200 companies from New York stock exchanges are gathering pace with a plan to let US inspectors travel to Hong Kong to review audit documents of Chinese businesses. Chinese regulators have instructed major accounting firms to prepare to bring the audit work papers of US-listed Chinese companies to Hong Kong, where they can be reviewed by the Public Company Accounting Oversight Board, according to a person who asked not to be identified as the discussions are private. [Extracted from the article]

(Bloomberg) -- Talks between Beijing and Washington to avoid the delisting of about 200 companies from New York stock exchanges are gaining steam with a plan to let American inspectors travel to Hong Kong to review Chinese businesses' audit documents. Chinese regulators have instructed major accounting firms to prepare to bring the audit work papers of the US-listed Chinese companies to Hong Kong, where they can be reviewed by the Public Company Accounting Oversight Board, according to a person who asked not to be identified as the discussions are private. [Extracted from the article]

(Bloomberg) -- Hong Kong's new health chief saidconditional quarantine-free travel could be allowed byNovember in time for a global bankers' summit to be heldin the city, the South China Morning Post reportedWednesday. Lo said he would still need to examine the latest data onthe positive rate in Covid tests submitted on the thirdday of hotel quarantine by overseas arrivals before hecould decide on changes to the rules, the paper said. [Extracted from the article]

(Bloomberg) -- Hang Seng Indexes Co. is considering wide-ranging changes to Hong Kong's stock benchmark that would dilute the influence of its largest companies. The proportion of mainland companies increased to 79% of the index this year from 41.6% in 2005, according to Hang Seng's consultation paper. [Extracted from the article]

(Bloomberg) -- Hong Kong pro-democracy media mogul Jimmy Lai pleaded for help for his flagship newspaper the Apple Daily, as advertising income slumps to almost nothing due to political retaliation and the Covid-19 pandemic. Outspoken Paper Apple Daily, founded in 1995, has been one of the Asian financial hub's best-selling newspapers and known for being outspoken against Beijing and the Hong Kong government. [Extracted from the article]

(Bloomberg) -- China has arrested two overseas nationals for their alleged involvement in Hong Kong's protest movement, state newspaper Southern Daily reported, citing information from the national security agency. Taiwan citizen Lee Meng-chu and Lee Henley Hu Xiang of Belize were arrested by the national security authorities in the southern Guangdong province, the local paper said in two reports published Saturday. [Extracted from the article]

With nearly 2,000 children hospitalized because of the virus in Hong Kong, parents also are fretting about a policy that doesn't allow healthy parents to stay with their sick children due to lack of space. (Bloomberg) -- Three children under the age of 5 have died in Hong Kong's spiraling Covid outbreak, a disproportionately large number that has local parents anxious, though pediatricians say it could just be a grim coincidence. In times of rampant disease transmission, some people who are infected with Covid will die of causes that aren't related to the virus, said Jonas F. Ludvigsson, a pediatrician and epidemiologist that published a paper on child fatalities linked to Covid-19 in Sweden. [Extracted from the article]

Hong Kong has released plans to regulate ride-hailing services like Uber, which has been operating unregulated in the city for the past decade. The proposal includes licensing platforms such as Uber and implementing stricter penalties for rule-breaking. However, the plan lacks clarity, and there are no plans to increase the number of hire-car permits available, which could leave many Uber drivers operating illegally. The government aims to improve taxi services by introducing premium fleets. The outcome of this dispute may have implications for how Uber is regulated in other locations. [Extracted from the article]

Hong Kong has announced plans to regulate ride-hailing services, including Uber, in an effort to improve taxi services in the city. The government intends to license platforms like Uber and impose stricter penalties for rule violations. However, the number of hire-car permits available for ride-hailing services will not be increased, potentially limiting Uber's operations. The move to regulate ride-hailing services comes in response to complaints about rude service, overcharging, and dangerous driving in the taxi industry. The Transport Department will conduct a study on commuter needs to shape the new regulatory regime. [Extracted from the article]

(Bloomberg) -- Hong Kong plans to raise the maximum protection on bank deposits in a move designed to better shield people during times of severe stress. The Hong Kong Monetary Authority proposed to increase the amount of savings covered by the government guarantee in the event of bank failure to HK$800,000 ($102,272) per depositor at each Hong Kong bank, up from HK$500,000, a consultation paper showed Thursday. [Extracted from the article]

Akbar Al Baker, chief executive officer at Qatar Airways, said the Hong Kong carrier should have had a large percentage of its flights resumed by now, the paper reported. (Bloomberg) -- Hong Kong's stringent Covid-19 policy is "killing" Cathay Pacific Airways Ltd., the South China Morning Post reported, citing the head of shareholder Qatar Airways. [Extracted from the article]

Keywords: ALLTOP; ASIA; BUSINESS; CHINA; COS; HK; INDUSTRIES; MARKETS; MKTTOP; STK; STKTOP; SVC; TOP; WORLD; WWTOP; WWTOPAS EN ALLTOP ASIA BUSINESS CHINA COS HK INDUSTRIES MARKETS MKTTOP STK STKTOP SVC TOP WORLD WWTOP WWTOPAS RH7QKTT1UM0Y Hong Kong's Hang Seng Tech Index climbed as much as 2.1% on Friday before paring gains to close 0.8% higher as it capped its biggest weekly gain in over a month. China regulators have instructed major accounting firms to prepare to bring audit work papers of US-listed Chinese companies to Hong Kong, where they can be reviewed by US officials, according to a person who asked not to be identified as the discussions are private. [Extracted from the article]