Change of direction

Property developer Chinese Estates Holdings plans to start looking into investment opportunities in the high-technology sector.

Executive director Thomas Lau Luen-hung said he had started investing in hi-tech projects 10 years ago, together with his elder brother Joseph Lau Luen-hung, also chairman of Chinese Estates.

He said they did not use their listed vehicle to invest in hi-tech projects as at the time the market considered such investments highly risky.

The market's view had changed and Chinese Estates would start to look at some opportunities.

Mr Thomas Lau said he and his brother owned 22 per cent of US-listed hi-tech firm Gemstar International.