Developers are the most attractive joint-venture partners for overseas Internet companies in Hong Kong due to their financial health, according to Morgan Stanley Dean Witter's Asia managing director.
Peter Churchouse said property companies were the 'partners of choice', particularly for United States Internet service providers.
Most appeared to be well positioned to participate in the convergence of communications, data and entertainment because of their cash, clients and contacts.
Many developers were sovereign-rated with easy access to debt finance, while their large rental portfolios provided a ready client base for hi-tech and telecoms services.
'Large property companies have been the most successful in moving into tech-space,' Mr Churchouse said.
'They have often good relationships with Chinese authorities [which] may provide a solid basis for advancing tech-related activities in China.' TECHNOLOGY
