Inchcape, a London-based international distribution group, has appointed Raymond Ch'ien Kuo-fung non-executive chairman of Inchcape Pacific, its Hong Kong business vehicle, replacing Paul Cheng Ming-fun. Mr Ch'ien is a member of Chief Executive-designate Tung Chee-hwa's executive council and will soon step down as managing director of consumer products group Lam Soon. The move potentially catapults Inchcape into a new sphere of political influence. While Mr Cheng was noted for his good contacts with Beijing and was a member of the Preparatory Committee, the Provisional Legislature and the Legislative Council, Mr Ch'ien will be part of Mr Tung's inner cabinet, running the territory after the handover. 'I regard that as very positive,' Inchcape chief executive Philip Cushing said. 'He is also an outstanding all-round person with a lot of business and commercial qualities, as well as being very well-respected in the political field. We are delighted by this appointment.' Mr Ch'ien, who is also chairman of the Industry and Technology Development Council, will take up a non-executive directorship on Inchcape's main board, which met yesterday for its annual general meeting. Mr Cheng formally stepped down from Inchcape Pacific and the main board yesterday, but Mr Ch'ien will not take up his new responsibilities until July, when he resigns as managing director of Lam Soon. Given that Mr Ch'ien will only be a non-executive, and will be playing an active role in the Special Administrative Region Government, he is expected to devote only a small proportion of his time to Inchcape. 'The time he does spend with us will be important in assisting the development of our business in China,' Mr Cushing said. Inchcape Pacific is the largest distributor of Toyota vehicles in the territory. It has distribution networks for soft drinks and consumer and industrial products. It employs 6,000 people, mainly in Hong Kong, China and Taiwan. The parent's shares yesterday shot up 12.5 pence, or 4.3 per cent, to 302.5 pence, after the company reported that trading in the first four months of the year was encouraging, and that market conditions were favourable. Profits from its continuing business were also expected to do better. Chairman Sir Colin Marshall, at the annual meeting, said Mr Ch'ien's experience would be invaluable.
