Li's bargain buy up

PUBLISHED : Tuesday, 10 September, 2002, 12:00am
UPDATED : Tuesday, 10 September, 2002, 12:00am

Influential tycoon Richard Li Tzar-kai (left) moved boldly into real estate on Saturday night, snapping up 100 units for an extraordinary $10,000.

But before the market collapses, SAR should point out that the units were little Wendy houses made of styrofoam and wobbly wooden frames by the children of the Po Leung Kuk charity group.

And the purchase was just one of many fund-raising efforts at Saturday night's hugely successful Foreign Correspondent's Club Ball. In total, more than $750,000 was raised for the FCC Scholarship Fund which aims to enable the needy children from Po Leung Kuk to attend university.