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SCMP Reporter

irish eyes will be smiling on paddy's day

'May the best of your past be the worst of your future,' goes one of Lai See's favourite Irish toasts which you are free to use today should you choose to raise a glass of Saint Patrick's Day cheer.

Guinness, the renowned Irish stout, moved its Asia regional office from Hong Kong to Singapore in 1991. The rainbow ends in neighbouring Malaysia, as far as the beer company is concerned, its biggest market in Asia and sixth largest worldwide.

Locally, it is interesting to note there are about 1,500 Irish citizens living in Hong Kong. What's more, exports from the Republic of Ireland to Hong Kong totalled more than Euro830 million (HK$8.6 billion) in 2004 - more than that part of the green isle's exports to the mainland.

grooming the successor

In the proud tradition of Hong Kong tycoons, the market chatter on Citic Pacific this year is that billionaire chairman Larry Yung Chi-kin is grooming his son as a potential successor.

The younger Mr Yung, Carl Yung Ming-jie, has seen his star rising fast. Earlier this year, he was promoted to deputy managing director of the firm.

The 38-year-old wasn't at Thursday's press conference. It is understood he spends most of his time in Shanghai, where he looks after the group's mainland property unit. It's a core business for Citic Pacific, with up to HK$25 billion in capital earmarked for projects over the next three years.

The 65-year-old chairman, who ranks as the mainland's third-richest person, declined to be drawn on the question of his successor.

'A company cannot only rely on a particular person,' he  said. 'I hope everyone in the company will work hard.'

numbers up

It's probably just a coincidence, but on Wednesday Australian casino operator and bookmaker Tabcorp Holdings parted ways with chief executive Matthew Slatter. Tabcorp had been under the spotlight in recent weeks for its lacklustre attempts to expand internationally.

Those efforts included aborted talks with Sir Richard Branson's Virgin Group for a US$3 billion casino in Macau, as well as a two-year old joint venture with Hong Kong-listed China LotSynergy Holdings to tap the mainland's HK$80 billion state lottery market.

The same day, China LotSynergy announced that its chief executive, Sun Ho, had resigned from the position and would be replaced by managing director Hoong Cheong Thard.

Mr Sun, who was integral in putting together the mainland lottery deal with Tabcorp during Mr Slatter's tenure, will stay on as deputy chairman and an executive director.

Talk about an unlucky draw.

spilling the beans

On his way into work yesterday, Lai See was surprised to see scores of people standing in queues more than 100 metres long along the pavements of Quarry Bay.

What could make so many Taikoo Place office workers stand outside in the humid, gritty air on a Friday morning, we wondered. Another Hello Kitty promotion at McDonalds? Not more layoffs at PCCW?

It turns out they were waiting for a caffeine fix. Between 10 am and noon yesterday, Starbucks shops across Hong Kong and Macau gave out free cups of coffee as a promotion. That's one way to grab attention.

lesson on aids

Standard Chartered Bank hosted the local press pack for its annual spring lunch yesterday and in keeping with tradition, the bank had a set of themed activities planned.

Reporters and bank executives learned how to tie their ribbons to symbolise HIV/Aids awareness. In recent years, the scope of the disease hit home with StanChart: one in 10 of its staff in Africa were missing work on any given day because they were attending funerals, caring for sick relatives or were sick themselves.

In response, the bank launched an education and prevention programme to teach all of its 43,000 employees about the disease.



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Citic

Lai See