Spotlight fades
Friday, May 18, 2001
He is society's darling, the business community's hi-tech guru, the young tycoon who could pay Whitney Houston $20 million to sing at his parties, or persuade the Hong Kong Government to give him favourable terms for ambitious information technology schemes.
Richard Li Tzar-kai's every move made - and still makes - headlines, but perhaps in the long-run a low-profile life might have been more beneficial to a man bent on becoming as respected in the business world as his famous father. When he climbed on the dotcom bandwagon, he made it seem unstoppable. When Pacific Century CyberWorks took over Cable & Wireless HKT, it was the business deal of the decade.
But a glamour image can prove something of a distraction to the serious business of building a commercial empire. When the company's dealings should have dominated the news, it was the executive chairman who tended to be the focus of attention.
If Mr Li does indeed decide to take a step back from the daily running of the company, many investors will welcome it as an opportunity to focus on the merits of the company itself. CyberWorks is not the only hi-tech company to have taken a battering on the world's stock markets over the past year. Like all of them, it needs to work out a strategy for future growth. The question is: how can it expand its Internet business? Most crucially how can it leverage the advantage of being Hong Kong's dominant telecoms business?
In essence, CyberWorks is no different from other tech companies. And perhaps Mr Li's stepping back would allow the focus to shift to business strategy and away from the company's high-profile boss.
--------------------------------------------------------------------------------
SCMP.com is the premier information resource on Greater China. With a click, you will be able to access information on Business, Markets, Technology and Property in the territory. Bookmark SCMP.com for more insightful and timely updates on Hong Kong, China, Asia and the World. Voted the Best Online newspaper outside the US and brought to you by the South China Morning Post, Hong Kong's premier English launguage news source.
--------------------------------------------------------------------------------
Published in the South China Morning Post. Copyright © 2001. All rights reserved.http://focus.scmp.com/cgi-bin/gx.cgi/AppLogic+FTContentServer?pagename=SCMP/Printacopy&aid=ZZZ6PV4UTMC |
