DIAMONDS are for ever, and so it seems is Elizabeth Taylor. The star of stage, screen and, of late, perfume counter, will be making a splash in Hong Kong next week when her latest fragrance - aptly named ''White Diamonds'' will be unveiled. Diamond Lil, herself, will not be present in the flesh, we are told. Oh no, she's far too busy mothering Michael Jackson and seeing the poor guy through his current spot of bother. Instead, a diamond-studded bottle worth US$100,000 (HK$773,800) containing the scent will be flown here to titillate the nostrils of the tai-tais. And, at the Hollywood star's request, the occasion will be used to raise funds for one of her favourite causes, AIDS research. Oscar-award winning actress Taylor, has repeated the feat with her perfume. White Diamonds has been awarded the US Fragrance Foundations' equivalent of an Oscar - for some strange reason called a Fifi. Fifi? Sounds more like Liz Taylor's pet chihuahua.