Chevalier Group, a specialist in construction, engineering and property investment, is staying away from dotcom fever.
Chairman and managing director Chow Yei-ching said the group would continue its conventional approach in its investment focus.
'Maybe I am just a bit conservative in this dotcom and Internet frenzy,' he said. 'For all of my life I have believed in long-term investment, and that is not going to be altered easily.'
The group, which celebrates its 30th anniversary in November, runs businesses ranging from construction, engineering, property investment and management to office equipment.
Mr Chow said the property market slump had made the construction business more competitive. Many small and medium-size companies submitted low bids to fight for work, he said.
The industry was also suffering from the recent piling scandals in public-housing projects, he said.