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HONG KONG NEWSPAPER HIGHLIGHTS - MARCH 1, 2002.

AsiaPulse News

| March 01, 2002 | COPYRIGHT 2002 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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.

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