HONG KONG: BEFORE THE OPEN, 27May2013

Lenovo to enter the US; New twists in HKMEx saga; Timmy Tong loves his high tea; Introducing the iBond; More wobbles in the property market; Here’s what you need to know pre open.

Timmy Tong enjoyed high tea on taxpayers tab

According to ICAC protocol breakfast and afternoon tea are not allowed to be expenses back to the agency. Ming Pao reports that Mr. Tong expensed breakfast and afternoon tea up to 40 times back to ICAC.