fearless forecasts for the year of the dog - but with a big caveat When CLSA abandoned its annual Fung Shui Index for the first time in 13 years, Lai See spotted a gap in the gimmick market. Initially, we feared that Credit Suisse had pipped us to the opportunity, but their briefing on Thursday instead focused on 'how to spend your lai see'. Into the breach, then, we present our second annual Lunar New Year column with predictions for the great and the good of Hong Kong Inc in the Year of the Dog. We also pick up where CLSA left off. Caveat emptor, however. Of our six predictions for the Year of the Rooster, which is soon to crow its last, not a single one came to pass. *First off, we predict big meaty bones this year for PCCW. It has been 12 years since chairman Richard Li Tzar-kai broke away from Daddy's Hutchison Whampoa and founded his own Pacific Century Group. As for this year, we note that group managing director Jack So Chak-kwong's contract is to expire in summer. You read it here first that he will go over to Hutchison Whampoa. Hutchison managing director Canning Fok Kin-ning, meanwhile, will reunite with Richard and do for PCCW what he did best for Master Li's father - create exceptional profits. For his troubles Mr Fok will be paid $200 million per annum with options on 1 per cent of the company's share capital each year until he has taken over control of the company. PCCW deputy chairman Francis Yuen Tin-fai will announce plans to leave the rat race behind and pursue his true calling as a teacher. However, a visiting accounting and finance professorship at Stanford University is jeopardised by this week's accounting error at Pacific Century Insurance Holdings. As for when Mr Li's designs on Hong Kong Economic Journal will finally reach fruition, that is anyone's guess. But Lai See boldly predicts that in the cable-television realm, Peter Woo Kwong-ching's i-Cable Communications and its flagship Cable TV channel will prevail in its current tete-a-tete with PCCW's Now TV. *As for Hong Kong's property tycoons, they too will enjoy a good year. The local market will go up a further 10 to 15 per cent, and more of the proceeds will be redirected to mainland projects. Forget about Jardine Group's returning to Hong Kong as a listed entity anytime soon, but we'll see Sun Hung Kai Properties pull off a second listing in Singapore after paying through the nose for a pricey Orchard Road commercial site. Other property blue chips threaten to follow SHKP's lead if the Hong Kong government doesn't release more land for tender. *Henderson Land Development's Lee Shau-kee decides to give up on privatising Henderson Investment. In a special dividend, he instead distributes shares in Henderson Investment, Miramar Hotel and Hong Kong Ferry to Henderson Land shareholders. *In the political realm. Among the many developments we failed to tip last year were The Donald's emergence as Hong Kong's second Chief Executive and 'Humble' Wong Yan-lung's new career as Secretary for Justice. *This year we predict that corporate governance scold David Webb will launch his own political career, joining Legco as the representative of Hong Kong's Architectural, Surveying and Planning functional constituency. Making common cause with 'Long Hair' Leung Kwok-hung, Mr Webb redirects his fire from corporate monopolies to the political variety. Heung Yee Kuk members, look out. *Mimicking his idol Alan Greenspan, Hong Kong Monetary Authority head Joseph Yam Chi-kwong retires, grows bored and takes a new job with the China Banking Regulatory Commission to help clean up the mainland banking sector. *Finally, our market picks. Fashion company I.T is a sure thing. Its stock code, 999 or gau-gau-gau in Cantonese, is a homonym for 'dog-dog-dog'. And as dogs are associated with longevity in Chinese astrology, we predict a big year for infrastructure plays and their long-term projects. As for the market, it will close the year at 19,999. Trust us. That's it for the Year of the Rooster, and here's wishing you much happiness and fortune (in that order) in the Year of the Dog. Kung Hei Fat Choy! Lai See Dao Loi!