The event is the biggest single donor to the Operation Smile and Crossroads charities. This year, the Chi Heng Foundation, which helps Aids children in China, will also be a beneficiary. HSBC is the principal sponsor and has donated HK$1 million.

Among the prizes up for grabs are: a business-class trip for two from Cathay Pacific Airways to collect an aircraft from either the US or Europe; a dinner party for up to 20 at HSBC's dining room on top of the bank building; Jardines has for the first time allowed the opportunity to fire the noonday gun be auctioned; and box seats for eight at the Albert Hall for an Eric Clapton concert.

Let's not forget the awards which are designed to inflict maximum embarrassment on the winner. These include 'Timing is everything', which goes to poor stock recommendations, bad timing for opening or closing offices and so on; 'golden fleece' award for investment banking which requires little explanation; 'media person of the year', which goes to the person with the most gratuitous press coverage.

We hope to report on award winners after the event at the Grand Hyatt on March 3.

Star attraction

We were intrigued to see that singer Rihanna is to be paid US$500,000 for a one-hour charity show in aid of the Dana-Farber Cancer Institute at Donald Trump's 58-bedroom mansion in Palm Beach. This caught our attention because she was the star attraction at the party CLSA threw at the end of its Investor Forum last year.

Since appearing at CLSA's party, Rihanna (above) has had a number of hits, and her star appears to have some way to go.

CLSA seems to have caught her on the way up and may not have had to pay her full current value so to speak.

Let's hope they are as good at identifying stocks on the way up as they are in spotting talent.

Citi on a mission

The folks at Citi are on a mission. Hot on the heels of opening a number of automated teller machines in 7-Elevens in Hong Kong, it has opened an ATM in the Peninsula Tokyo. Now, it is looking to repeat the trick in Hong Kong.

The bank aims to double its retail clients from one million to two million. This is why it has been on a tear boosting the number of retail outlets from 25 to almost 50 in the past year or so with HSBC in its sights.

It clearly has some way to go in Hong Kong but likewise HSBC also has some way to go in matching Citi in the region. Some people have suggested that the new HSBC television advertisement is a result of feeling competitive pressure.

The people at Citi are also chortling over being named best bank in Asia-Pacific for last year, the second consecutive year it has won the 'prestigious award', the bank said.

CLP seeks light on name

CLP, one of the duopoly that supplies our light and power, apparently has a problem with its name in India. At present it rejoices in the name of 'CLP India Private', which sounds more like a hedge fund.

Managing director Andrew Brandler yesterday said the company might change the name of its Indian flagship because Indians view the acronym CLP as that of a Chinese state-owned company. This, he said, had generated some negativity towards the firm.

How about naming it India Light and Power or ILP?

On a straight path

Luxury carmaker Daimler says a former German judge is joining its board as an integrity officer - a post created after the company agreed to pay US$185 million in a bribery case. Daimler announced Christine Hohmann-Dennhardt's appointment on Tuesday.

Last year, Daimler agreed to the civil and criminal payments to US authorities over bribes paid to win sales in various countries. It also agreed to have former FBI director Louis Freeh monitor its compliance with anti-bribery measures for three years.

Imagine if Hong Kong corporates went down the same path. We recall a prominent investment banker in Hong Kong saying there was nothing wrong with paying a bribe to cut red tape.