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Ben Kwok

miffed pccw tycoon looks west for new enterprise horizons

It looks like Richard Li Tzar-kai took out his world atlas over the holiday season after fellow shareholders, including the mainland's state-owned China Netcom, foiled his efforts to cut his ties with PCCW.

Lai See understands that the Middle East now features high on PCCW's must-do list this year, with the Hong Kong telecommunications firm ready to bid for consulting work with Saudi Arabia's second-biggest network operator.

PCCW subsidiary Cascade, which licensed its internet protocol platform in Taiwan, Thailand, Ukraine, Serbia and Morocco this year, could be in line for a contract worth as much as US$70 million. Its bid, if successful, could help make the area the answer to PCCW's long search for a new growth engine beyond its limited home market.

The company will find excellent travelling companions on the emerging market route, already pursued by China tech companies such as hardware vendor Huawei Technologies and ZTE.

Prince Richard is personally involved in the Cascade project, although it is not known if that goes as far as learning Arabic.

dress code sifts out women

Arab ways are also on the mind of Secretary for Financial Services and Treasury Frederick Ma Si-hang.

The government executive is heading off this weekend on a five-day Hong Kong services promotion mission to Saudi Arabia and the United Arab Emirates, leading a team of 33 business delegates.

In one important respect, the delegation was unrepresentative as it included only two women. We understand that more women were keen to go before some learned at a pre-tour briefing that they would have to cover up from head to toe and sit apart from the men at meals.

builders, brokers smell petrodollars

Hong Kong's builders figure strongly in the Middle East delegation, no doubt hoping to cash in on the Gulf's petrodollar-fuelled construction boom. Among those gambling on their luck is K Wah Construction's 78-year-old chairman and Galaxy Entertainment head, Lui Che-wo.

Mr Liu is travelling with executives from five other listed builders - Wai Kee, Paul Y, Midland Holdings' Chun Wo, NWS Holding's Hip Hing and China State Construction Engineering, a unit of China Overseas.

Brokers are also travelling in numbers. ICBC (Asia) chief executive Zhu Qi, Asia Financial president Bernard Chan, Hantec Investment chairman Timpson Chung Shui-ming and 12 others are no doubt seeking to direct more oil dollars their way.

SFC bosses set cracking pace

Eddy Fong Ching, the non-executive chairman of the Securities and Futures Commission, has established a fast pace of work at the start of his three-year contract or at least he did enough to pass his three-month probation period.

During that time, Mr Fong (pictured) chaired a monthly meeting with his six executive directors, a get-together with seven non-executive directors and committees on audit, remuneration and budget. Although it is only a part-time job, he has vowed to see more of board members and other stakeholders.

'I believe the most vital role of the chairman is to call upon all members of the board to fully participate in the affairs of the Commission,' Mr Fong told members of the Hong Kong Institute of Directors yesterday. Even so, his duties trail those of chief executive, Martin Wheatley, who is listed on the SFC website as having 14 separate items of responsibility, three more than the chairman.

'It is only logical that the CEO gets a longer list, as he is a full-time executive,' Mr Fong said.

just a 12-hour commute

Life in the non-exec chair can be tough. Take former HSBC taipan John Bond, who is now non-executive chairman of Britain's Vodafone Group.

Gossip emerged recently that sir John, who spent Christmas at his palace in the Strawberry Hills section of the Peak, would like to retire in Hong Kong.

Confirmation  proved hard to come by, although one banker said: 'He only needs to work 90 days a year as Vodafone non-executive chairman - which suggests he could spend the rest of his time in Hong Kong.' Last year, Sir John bought his second house in Strawberry Hills and agreed to take up an independent non-executive role in Shui On Land.



Lai See