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Technology Stocks : PCW - Pacific Century CyberWorks Limited
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To: ms.smartest.person who wrote (985)4/4/2001 7:48:51 PM
From: ms.smartest.person  Read Replies (1) of 2248
 
PCCW's Li says he knew of errors in reports he was Stanford graduate
AFX Europe; Apr 3, 2001

Pacific Century CyberWorks Ltd executive chairman Richard Li said he knew of mistakes in reports citing him as a Standford University graduate for several years but did not rectify the errors, Hong Kong iMail reported.

Li however denied that the failure to rectify the error was a deliberate cover-up, saying that it was negligence.

He saidhe did not realise at the time that mistakes in reports other than statutory documents "matter that much."

"It's a wrongdoing on my part that I did not make an effort to correct the mistakes ..."

"All I can say is, I would have hoped it had been done in the past years, but it's a fact we didn't. We did not say (he graduated) in our company statements. But are documents other than those statutory ones important? We did not think so at the time.

"Now that we know there is such a huge concern, we wish they had been corrected in the past seven or eight years."

So far, two listed companies have filed public statements with the error on Li's academic record.

"I did not spot the mistakes in the disclosures. The lawyers told me the most it could be is a small fine, maybe none, but I haven't heard anything so far."

ra/jw

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