Li mends fences with Singapore

Singapore Telecommunications (SingTel) may still be interested in exploring possible tie-ups with Pacific Century CyberWorks, perhaps even in conjunction with Rupert Murdoch's News Corp.

'We would be interested in exploring mutually beneficial strategic business opportunities with anybody,' SingTel spokesman Lim Seng Jin said yesterday.

Both SingTel and Cable & Wireless HKT have struck separate digital television, Internet and broadband alliances with Mr Murdoch's companies in recent months.

CyberWorks chairman Richard Li Tzar-kai flew to Singapore on Friday to mend fences after emerging victorious from a fiercely fought HKT takeover tussle with the city-state's government-linked telephone firm.

Extending an olive branch, CyberWorks' 33-year-old founder said: 'If there's any opportunity to work with Singapore Inc we would want to . . . and we will keep an open mind about doing business with SingTel or any other Singapore companies.' Mr Li told Singapore's Business Times newspaper he felt 'pretty bad' and 'very uncomfortable' about snatching HKT from under Singapore's nose, especially given that he set up his first listed firm in the island-state, Pacific Century Regional Developments.

'I hope this is not seen as an anti-Singapore move,' said Mr Li. 'It's a commercial opportunity that's kind of difficult to miss.' SingTel said in a statement to Singapore's stock exchange yesterday: 'SingTel will keep its position under review and may reconsider its position in light of the progress of the proposed offer by PCCW and the circumstances in which Cable & Wireless' undertaking will lapse.' SingTel 'strongly advised' investors to exercise caution when trading its shares.