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Technology Stocks : PCW - Pacific Century CyberWorks Limited
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To: ms.smartest.person who wrote (1223)5/17/2001 10:50:12 PM
From: ms.smartest.person  Read Replies (2) of 2248
 
Dossier: Richard Li
This Dossier was last updated on May 17, 2001.

Vital Signs
Name: Richard Li
Title: Chairman & CEO
Company: Pacific Century CyberWorks
Sector: Telecommunications
Age: 34
Education: Did not complete university
Salary: n/a
Claim to fame: Li established PCCW in 1993 with proceeds from the sale of StarTV, the first pan-Asian satellite television network. Li made his mark in 2000 with the $28bn takeover of Cable & Wireless HKT, Hong Kong's dominant telephone operator. It transformed PCCW from an internet company with some property interests to a telecoms company that includes an old-fashioned fixed line service. But following a series of recent setbacks, Li is expected to take a less operational role in future. Several disgruntled investors have threatened to sue Li after allegations that he exaggerated his educational credentials. Li admitted he had not completed a computer engineering degree at Stanford University despite claims by several of his companies that he had. More troubling has been the financial state of his company, which is suffering from severe price pressure and has struggled to raise money to pay off debts built up through the acquisition of Hong Kong Telecom from Cable and Wireless of the UK.
Quotable quote: 'Hong Kong has a great opportunity to further enhance her vitality and dynamism, not by dismantling what has been functioning well, but by reinforcing the threads that constitute our social fabric that are part and parcel of our way of life.'
Etc: Richard Li is the younger of the two privileged sons of Li Ka-shing, Hong Kong's richest tycoon. Older brother Victor was picked to succeed his father in running the empire, leaving young Richard to make a name for himself.

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