Shangri-La Asia has announced it will hold a meeting next week to reconsider its recommendation to pay a final dividend of five HK cents per share for the past financial year with a scrip alternative. It said the Sars outbreak had led to a significant fall in occupancies and in local food and beverage spending at the group's hotels, which would adversely affect its upcoming interim result. However, it said the group had a healthy balance sheet, adequate liquid funds and available lines of credit to meet long-term and short-term financial requirements. PCCW holds talks with outgoing MTR chairman PCCW confirmed that it was in discussion with the MTR Corp's outgoing chairman, Jack So Chak-kwong, to be a member of the company's senior management, but no contract had been signed. News of Mr So joining PCCW as group managing director sent its shares to a 21/2 month high. The shares closed up 4.9 per cent at HK$5.35 yesterday. Sunevision records fifth quarter of profit Sunevision has maintained stable earnings from its data centre operation and posted its fifth consecutive quarterly profit. The technology arm of Sun Hung Kai Properties yesterday reported a third-quarter HK$16.2 million profit over the three months to March. Its iAdvantage data infrastructure business contributed more than half of total turnover of HK$59.9 million. Second Sina chief quits in two years Nasdaq-listed Chinese-language Internet portal operator Sina Corp has announced the sudden departure of its chief executive Daniel Mao, marking the second chief executive to leave the company in two years. Sina said its president and founder Wang Yan would replace Mr Mao as chief executive. Sina said Mr Mao would remain as a director of the company. Mr Mao was appointed in June 2001.
