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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (1377)6/11/2001 12:26:01 AM
From: ms.smartest.person  Read Replies (1) of 2248
 
Young guns fail to shoot it out in Quarry Bay
2001-06-10


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Last night was again shaping up nicely for a head-to-head between two of Hong Kong's leading young entrepreneurs.

Star chairman and chief executive James Murdoch - son of Rupert - was spotted on the stomping ground of Pacific Century CyberWorks' Richard Li Tzar-kai - son of Li Ka-shing.

Mr Murdoch was propping up the bar of the Thai Orchid in Quarry Bay - across from the home of CyberWorks.

We say again, because he was also there Tuesday night, enjoying the odd Jim Beam.

Speculation was rife among patrons in the bar that a rumble was on the cards between the two over who had the biggest dad.

In August last year, in one of his first speeches after taking the helm at Star, Mr Murdoch ranted about how other media players - specifically Mr Li and his Network of the World enterprise - had failed to understand what it takes to go global.

Unfortunately, on Tuesday the much hoped-for fracas failed to materialise as Mr Murdoch was soon joined by three friends and left shortly afterwards.

And Mr Li recorded a no show.

As he left Mr Murdoch was heard to remark: "Three weeks is a good amount of time to spend in Hong Kong. I don't normally get three weeks in the office at one time."

Probably too busy at the gym working on his left hook.

Net effect

It took some time but finally someone has come up with a credible use for all this new technology.

For more than a year now, Hong Kong companies have struggled to justify rampant expenditure on technology.

But finally, one businessman has come up with an idea that can help Hong Kong maintain a strong economy based on what it does best - build stuff.

In an inspired piece of logic, property tycoon Lee Shau-kee has outlined how technology can justify his building 220 residential units on a site next to Union Hospital in Tai Wai, Sha Tin.

The gist of Mr Lee's reasoning is that new technology will help reduce the amount of time a patient has to spend in hospital.

Problem: Where to find the money to buy and develop the new technology?

Answer: Raise cash by building residential property on hospital land.

If Mr Lee gets the go-ahead it will be the first time a hospital has used residential sales income to subsidise operations and expansion.

Until now, the use of hospital land has been strictly controlled by Town Planning Board rules and lease restrictions.

Lai See is worried that this could open the floodgates to surgery at home as hospitals are gradually developed into residential units.

And we are not prepared to sit down to dinner as Grandma has her in-growing toenail removed on the kitchen table.

Weathering well

As this column appears to be taking on a decidedly violent hue, it only seems appropriate to point out that the Hong Kong Police force have also been putting the boot in.

Uniformed officers are being kitted-out in sports boots designed to keep their 10 toes as snug as bugs in wet weather.

"The shoes combine the grip, comfort, shock absorbance, light weight and ventilation of sports shoes with the rugged protection and classy looks of leather ones," according to the Government Information Service.

"Made of modern materials, they also keep feet dry on rainy days."

Station Sergeant Lee Kam-hing of Team One Security in Police Headquarters is reported to have tried on the sample shoes and liked them so much he wanted to keep them.

"I have spent a lot of money buying inner soles to try to make existing police -issue shoes more wearable for me," he lamented.

"But these new ones are a lot lighter and better ventilated and so are a lot more comfortable. They also seem to offer more protection, particularly around the ankle. Hey, can I keep them?"

No you can't Mr Lee, as that would be theft and we'd have to call the police.

Graphic: whee07gbz

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