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HONG KONG,March 1 Asia Pulse - Highlights of today's newspapers:
SOUTH CHINA MORNING POST:
- The net profit of urban railway operator MTR Corp climbed 5.28 per cent to HK$4.28 billion last year on the back of lower interest expenses and steep cost cuts
- Hong Kong brokerage BNP Paribas Peregrine is poised to seal a landmark agreement to put it in the forefront of mainland joint-venture investment banks.
- Hongkong and Shanghai Hotels' net profit plunged 61.17 per cent last year due to fallout from the September 11 terrorist attacks in the United States and a larger-than-expected provision.
- DBS chief executive Philippe Paillart has defended the group's purchase last year of Dao Heng Bank, saying the deal was "fully priced" but vital to securing future growth.
- Citic Ka Wah Bank comprehensively beat forecasters with a better than expected 15.9 per cent increase in net profit last year to HK$616.63 million.