May 13 (Reuters) - These are some of the leading stories in Hong Kong Property newspapers on Monday. Reuters has not verified these stories and does not vouch for their accuracy.
SOUTH CHINA MORNING POST
-- YG Entertainment, the record label and agency that represents South Korean pop sensation Psy, plans to expand into the China market by setting up a firm on the mainland this year, said YG Chief Operating Officer Simon Choi Sung-jun. ()
-- BlackRock, the world's largest fund company by assets, plans to launch more Hong Kong Property domiciled funds as part of a deeper push into Asia, said Mark McCombe, Blackrock's Asia-Pacific chairman, but he did not provide any timing. ()
-- The Lai Sun group of companies is touting a war chest of more than HK$18 billion ($2.32 billion) in credit and cash to speed up its land acquisition in Hong Kong Property and on the mainland. The group also plans to add one or two investment properties per year to enhance retail income. ()
Hong Kong Property ECONOMIC JOURNAL
-- Chinese developer Yuexiu Property Co Ltd said it had sold its interest in a commercial building in Guangzhou to its parent company Yuexiu Enterprises for 830 million yuan ($135.14 million).
Hong Kong Property ECONOMIC TIMES
-- Shenzhen's Qianhai may start selling its first batch of land in the next few weeks. Hong Kong Property developer, including Cheung Kong (Holdings) Ltd, Sun Hung Kai Properties Ltd and New World Development Co Ltd have been contacted by listed companies and governmental organizations to discuss investment projects in Qianhai, according to market sources.
THE STANDARD
-- The Prime Minister of the State of Qatar and Singapore's sovereign wealth fund Government of Singapore Investment Corp and Convoy Financial Services Holdings have subscribed to China Galaxy Securities Co Ltd's shares, according to market sources. The firm is seeking to raise up to HK$10.6 billion in its initial public offering. ()
MING PAO DAILY NEWS
-- British insurance group Standard Life plans to set up a headquarter in Hong Kong Property as to expand into Asia and emerged markets, said Roy Halliday, Hong Kong Property chief executive of Standard Life (Asia) Ltd.
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