THE ban on smoking in planes in 1996 creates a new opportunity to reuse the no-smoking section. Now airlines can segregate those snivelling nasty little creatures called children. That's the opinion aired by the new edition of The International Guide to Airlines and Airports , which our informant discovered sitting in the family mailbox. We've heard rumblings of anti-child feeling before from business class passengers, and now the rebels have a leader: the unnamed author of this otherwise dull yearly guide, which devotes most of its pages to hints on 'surviving jet lag' and giving details of the legroom on Uganda Airlines. 'If Business Class is not a misnomer,' he rants, 'why do we find toddlers terrorising half a plane-load of professionals intent to work on their computers, to discuss business proposals with their co-workers, or indeed catch a nap between meetings?' He describes a sleepless night because of 'screaming kids' as 'one of the most unpleasant experiences ever aboard any plane', an accolade we would normally reserve for crashing. He suggests that the back of the cabin, previously the smoking section, should be turned into a 'screaming kids' section. Unfortunately, when we spoke to a couple of airlines, they seemed pretty unmoved. One even pointed out that discrimination on the grounds of age might be legally risky in the US. Still, true campaigners will no doubt not be put off by this feeble argument, or indeed the argument that most business class passengers were at one stage children themselves. A bargain MEASURED by price-earnings ratio, Liang Shing (Holdings) must be the cheapest stock to come to the Hong Kong market for years. This company comes at a pro-forma price-earnings ratio of 3.2. Translation: they're half-giving the shares away. The bit of the prospectus on professional fees caught our eye. Although they are raising $70 million from the public, $22 million of this goes to brokers, underwriters, legal advisers etc - there's even a $225,000 listing fee for the stock exchange. So after it's sold its shares, the company has raised a mere $48 million. In effect, this flotation is just to up its bank account after the shareholders took $29.8 million out of the firm in special dividends last autumn. Anyone with a burning desire to buy this company's shares better get their cheques in quick as the offer closes tomorrow. Ratings curves TYCOON Peter Woo Kwong-ching seems to be positioning himself as the territory's leading supplier of upmarket smut. Yesterday he unveiled a plan to make Wednesday night Playboy night on his cable TV channel, offering what was described as 'erotic and tasteful entertainment specifically designed for adult viewers'. Unfortunately, Peter didn't actually turn up to the launch. That's his sidekick Steven Ng Tin-hoi pictured above, along with Playboy's Miss September 1993, Carrie Westcott. For the avoidance of doubt, Steven is the one on the left, while Carrie is the two on the right. Wish list WITH $100 billion in the government bank account over and above what was agreed to be handed over in '97, Hamish Macleod has lots of spending options in the budget. In its budget briefing yesterday, Price Waterhouse yesterday gave a list entitled 'What the Financial Secretary will not do': Waive profits tax until 1997; Abolish salaries tax until 1999; Allow people to gamble without betting duty until 2005; Give each new born baby next year a good start in life by giving them $1.4 million; Give each couple getting married next year a $2 million wedding present; Give everyone on public assistance or special needs allowance $170,000; Hand everyone over 60 a cheque for $130,000. All these would be possible ways of using up the reserves. We'd vote for the last two, given that these are the people whose hard work created the surplus. As for the cash bonus for new-born babies, this could lead to procreation on a scale exceeding even that shown on Peter Woo's cable TV channel.