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Jimmy Cheung

A leading candidate in the battle for the financial services seat claims he will be able to secure 70 per cent of the votes in his bid for re-election, despite challenges from an old rival and a new face.

Fung Chi-kin, of the Hong Kong Progressive Alliance, is running against Henry Wu King-cheong, 50, and newcomer Irene So Wai-yin, also 50. The constituency is made up of 448 voters in the brokerage field.

Mr Fung, 51, was defeated 117 to 125 by Chim Pui-chung in the first Legco polls. After Legco disqualified Chim over fraud convictions in late 1998, Mr Fung filled Chim's seat unopposed.

The Bank of China Investment managing director conceded that former support for Chim would be diluted, but he expected many of those votes to go to him.

With endorsement from 41 industry figures, including Institute of Securities Dealers chairman Chen Po-sum and Hong Kong Stockbrokers' Association chairman Paul Fan Chor-ho, Mr Fung, who leads the Chinese Gold and Silver Exchange Society, said he was confident of winning at least 70 per cent of the votes.

'My strength is that I am the incumbent and therefore will be in a better position to follow up issues in the new legislative term,' he said.

Mr Wu, who won only 47 votes in 1998, has the support of National People's Congress deputy Philip Wong Yu-hong, NPC standing committee member Tsang Hin-chi, Chinese Chamber of Commerce chairman Robin Chan Yau-hing and his son, legislator-elect Bernard Charnwut Chan.

In a letter seeking support, Mr Wu, a former provisional legislator and now executive director of Lee Cheong Gold Dealers, said he was free of the influence of political parties or business interests.

'I was known to work very hard and full-time when called for. I strongly believe that I am the right person to represent the constituency at the new legislature,' Mr Wu said.

He and Ms So are counting on the votes formerly won by Chim.

Describing herself as more of an all-rounder in the industry than Mr Fung, Ms So said contesting a Legco seat was a natural step after her successful bid for a seat on the council of the stock exchange and the supervisory committee of the Chinese Gold and Silver Exchange Society.

But she denied she had little support as she had only managed to sit on the stock exchange council now after repeated failures in the past seven years.

'I think my popularity and recognition in the industry is growing. I have full confidence in my campaign,' she said.

The Mansion House director also denied that a recent scandal, in which the company lent her sister and brother $100 million without securing shareholders' approval, would damage her campaign.

'This is the business of my company. I'm running in my personal capacity,' she said.

Asked about the endorsements secured by Mr Fung, Ms So said: 'It's easy to get the support of others. But I want to sell myself, not use others' names to strengthen my bid.'

Graphic: FINANGET



Incumbent faces an old rival and a newcomer