WIRING THE SPRATLEYS
China may not yet be an expansionary power, but it seems its biggest telecoms company is. At a press briefing yesterday, China Telecom kindly provided a map of its planned network acquisitions. Included was a politically correct section fanning out to Taiwan and down to islands in the South China Sea, including the Spratleys. Investors' reaction to this Cable & Wireless-esque footprint can only be guessed at.
TRUTH IN ADVERTISING
Remember those first advertisements last year for PCCW Infrastructure's Residence Bel-Air luxury development? The ones that featured a beautiful couple frolicking around a mansion set on what appeared to be the Mediterranean coast in sparkling, crystal-clear weather?
Well, if that wasn't a blatant enough misrepresentation of the real project - and its surrounding air quality - how about the name of the project's latest phase? It's called Bel-Air on the Peak.
The thing is, Bel-Air on the Peak is not on the Peak. It's in Pokfulam. But it appears at least one investor couldn't tell the difference, agreeing to pay a Peak-like $14,000 per square foot for a 5,758 sq ft duplex.
CRIME DOES PAY
Last Wednesday China Life ran an announcement in the Business Post detailing misbehaviour at its parent company - and its shares rose 5.64 per cent. It ran the same announcement again on Thursday, and investors rewarded it with a 1.94 per cent jump.
There was no announcement yesterday. China Life's shares fell 2.86 per cent.
See a pattern here, China Life? Pay us to run the announcement every day.