Warm welcome

Swire Pacific's new chairman, Christopher Pratt, received a warm reception at his first extraordinary general meeting yesterday as the firm announced it had received overwhelming support for the buyout of the remaining 50 per cent stake in Festival Walk for $6.18 billion.

Mr Pratt took over from David Turnbull as chairman and director of Swire Pacific and Cathay Pacific Airways on February 1.

With the company's annual results due out next Friday, Mr Pratt declined to comment on any business, although he said Swire would be interested in the government's new tender for the West Kowloon cultural district.