Consumers in Hong Kong just have so much choice. Lawmaker Emily Lau Wai-hing was fast to point this out in Legco yesterday, when she quizzed the government over its stance on competition laws. Secretary for Economic Development and Labour Stephen Ip Shu-kwan yet again insisted there was no need for such laws. In fact: 'All businesses operating in Hong Kong have always received equal treatment and operated on a level playing field.' Red flag. Ms Lau listed just a few of the choices we have in daily life. Take your pick: monopolies, duopolies, oligopolies, cartels and price fixing. 'Well,' Mr Ip replied. 'People have perceptions, of course.' Legislator Audrey Eu Yuet-mee was next to pipe up with a few examples. Supermarkets, for one. Notably, how immune they appear to be from deflation. 'Different people have different viewpoints and perceptions,' Mr Ip once again pointed out. Another legislator suggested that the government might want to assess various industries to gauge the level of anti-competitive behaviour. 'Different people may have different opinions,' Mr Ip responded. He later added: 'Different people approach the matter from different viewpoints.' But what about presumed price-fixing at container terminals? 'Different people have different opinions on this matter.' Mr Ip obviously sees a competitive world of myriad choices in Hong Kong - just not when it comes to his own repartee. lofty Dream takes a dive Cathay Pacific must feel as if it has been through the wars. All those planes. So few passengers. Hardly surprising then to see a hint of battle fatigue in Swire Pacific chairman James Hughes-Hallett's comments yesterday. Speaking at an aerospace forum, he puffed: 'Cathay Pacific is Hong Kong's airline and means to keep Hong Kong flying.' Sadly, he didn't punch the air. Not a balloon or pom-pom in sight, either. Instead, Mr Hughes-Hallett continued: 'It is notable that when the going gets tough, not all the tough get going. Cathay Pacific is the only carrier now serving the USA direct from Hong Kong.' All the 'partisan supporters of 'open skies' have retreated back to within the 100 per cent closed skies of the cocooned USA domestic market'. The cads. Open skies are obviously a flight of fancy when it comes to the bottom line. Dire diet Brokerages in Shenzhen have been hit hard by a flagging market and Sars, so cost-cutting has been inevitable, the Shenzhen Securities Association reports. Many brokerages have scaled back operations, closing retail outlets, shrinking or disbanding teams of investment consultants, and sacking customer services personnel. But the most definitive sign that the going is not good: brokerages have been forced to cancel or reduce the number of lunch boxes handed out to investors. Times may be tough, but aren't there some sacrifices that used to be thought unthinkable? pungent PR ploy Henderson Land has been taking some medical advice. The property company enlisted a traditional Chinese herbalist to come up with a potion to tackle Sars. In a magnanimous gesture, it handed some of the concoction out in pretty purple bags with a gold string. All you need to do is keep it in your pocket for 15 days to ward off the disease. Having smelled the herbal mix, Lai See can safely say it will work. It is noxious enough to kill a vampire. phone book with frills Brainteaser of the day comes courtesy of the Hong Kong Enterprise Asset & Equity Market. The name suggests a market; it is, however, a company. Yesterday it launched a registered broker scheme, but it is not a broker. It is a company that puts you in touch with brokers (the phone book is patently too much of a quantum leap); a channel for private companies looking to do asset and capital deals. Chairman Louis Pong Wai-yan explained its virtues yesterday. To join, you simply pay an annual fee of $20,000. Bargain. (So far it has done the grand total of four deals.) Part of its selling strategy is the revelation that it will work with two universities to offer training on mergers and acquisitions. Oooh. Which ones? Mr Pong said they had talked to all eight. Impressive. But which two made the final cut? Er, we are still in the 'selection process'. Got a question for Lai See? laisee@scmp.com Tel: 2565 2632 Fax: 2565 1624
