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Tycoon signal No 8 blows up deal on Hyatt

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David Evans

Typhoon Yutu may not have made much of an impression on Hong Kong last Wednesday, but tycoon Li Ka-shing may have been knocking a few Ming vases from their pedestals in the big man's office at the top of the Cheung Kong Centre.

Described as Mr Li's flagship enterprise in China, the Beijing Oriental Plaza - on the southern end of Wangfujing, the capital's main shopping street - boasts eight office buildings, a 600-room five-star hotel, 1,000 serviced apartments and a 100,000-square-metre shopping centre.

It was anticipated that the hotel would be opened this month (lucky eight and all that) to much trumpeting and popping of champagne corks.

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It was also widely expected that Mr Li's Harbour Plaza Hotels and Resorts would manage the hotel.

The group was so confident of this outcome that Harbour Plaza Hotel signs were erected in anticipation.

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Unfortunately, workmen apparently are presently making their way through the plaza removing the signs.

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