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Ben Kwok

dynastic tradition sets the pace for SEPTUAGENARIAN'S succession

It is becoming one of the most talked about events in Beijing at this time of year and we do not mean the National People's Congress. It is the question reporters keep asking Sir Gordon Wu Ying-sheung: 'When are you going to retire?'

This year was no different.  And neither was the answer. The 71-year old Hopewell Holdings chairman said he was ready to retire any time but needed approval.

'If my son  [Thomas Jefferson] says it is time, I'll go,' he said.

Based on the Chinese system of succession over the past 2,000 years, Lai See reckons Hong Kong will have full democracy before Sir Gordon steps down.

dangerous assignment

With such a media-friendly tycoon as Sir Gordon in town, it is not surprising the capital's reporters are queuing up to interview him.

One female  scribe who was hoping for a longer chat asked for his hotel room and phone number.

Quick as a flash, the  tycoon replied: 'I'm here with my wife. If you call my room, I'll be killed.'

hardly a political gamble

Casino boss Stanley Ho Hung-sun also got in on the media act in Beijing yesterday, boldly predicting that Donald Tsang Yam-kuen would win a second term as Hong Kong's chief executive unopposed in 2007.

'The bomb of West Kowloon has been defused. His position will be as solid as a rock,' said Mr Ho, referring to the government's shelving of the potentially politically damaging cultural district project.

He invited reporters to bet against his prediction. We understand there were no takers. After all, the house always wins.

nine dragons proves no paper tiger

As the famous old pop song Kowloon, Hong Kong goes, Kowloon is best place to be.

It certainly was yesterday as Nine Dragons, the literal translation of Kowloon, took the stock market by storm on its trading debut. Shares  in China's biggest containerboard maker rose 39.7 per cent to close at $4.75.

The Dongguan  firm had  drawn $25 billion  of orders from retail investors, making it 577 times oversubscribed and the hottest    listing this year.

Sticking with translations and numbers, as we are in the Year of the Dog, brokers are hoping it will become a  $9 stock.

lost in translation

One of the challenges of translation is trying to maintain the 'feeling and flavour' of the words.

It was in this spirit that Cathay Pacific Airways launched a competition to come up with the appropriate Chinese name for its new first class wine, Chateau Branaire Ducru, a Bordeaux described as 'elegant, supple and soft, offering complex berry fruits characters with velvety tannins and an opulent finish'.

The winner announced yesterday was 'Zhou Botong'.  This is the name of a character in the martial arts novels by Jin Yong, the pen name of Ming Pao founder Cha Leung-yung.

'His superiority and cheerful characteristic reflect the wine's premium quality,'  the airline enthused.

We don't know that our hero Zhou would have been too pleased at being thought of as 'fruity'. But then, it's all in the translation.

profit trumps PROPHETS

Some people said yesterday's 80-cent drop in  HSBC's share price was a bad omen for the bank announcing its annual results on Monday.

But the Lai See index tells a different story.

Over the past five years, Hong Kong's No1 stock has tended to fall after the results rather than before. The only exception was in 2002.

Normally, the share price goes up ahead of  results  and  that has been the case so far this year, for despite yesterday's drop, HSBC is up 6 per cent since January, although this is way behind rival Standard Chartered which is up 20 per cent.

Thomson Financial data shows the mean earnings' estimate for HSBC last year was $9.98 per share, up almost 8 per cent and that the stock has a median target price of $140.

What do the omens say now?



Lai See