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SCMP Reporter

THEY took the blows, did it their way and in the process transformed obscure family firms into giant international conglomerates.

  The tycoons and business leaders who have driven Hong Kong's economic growth have been a tough bunch and there is little evidence they are mellowing with age.

  Times may be changing but, after questioning senior members of the financial and corporate sectors, it seems the inner sanctum of the boss is as impenetrable as ever.

  Despite the legion of returning MBA graduates, business at the top is still typically funnelled through the hands of a single patriarch with a loyal band of lieutenants providing courtly advice.

  When we asked executives to list their candidates for Hong Kong's toughest bosses, the responses were diverse. But one name emerged head and shoulders above the pack.

  Ranking as Hong Kong's number one hard man by those who watch closest was Li Ka-shing.

  The choice may not be surprising, but the reasoning tended to be simple.

  ''You don't come from a rice field in Chiu Chow and end up the city's richest man without being the toughest,'' said the research director at one securities firm.

  Other great helmsmen branded as tough by our respondents were: Peter Woo of Wharf; Cheng Yu-tung of New World Development; Lee Shau-kee at Henderson Land; Joseph Lau at Chinese Estates; Sir Run Run Shaw of TVB; Stanley Ho at Tompson Pacific; the Kwok brothers at Sun Hung Kai Properties; Rod Eddington of Cathay Pacific; and the recently-departed Simon Murray from Hutchison Whampoa.

  Sunday Money asked respondents to make their assessment using three measures: toughness as a deal-maker; toughness on their employees; and toughness in the ability to bounce back from adversity.

  Deal-making, being the essence of Hong Kong fortunes - notably in the property sector, was considered Mr Li's greatest strength.

  Buying at the bottom of the cycle and against the consensus view is a common story for property magnates.

  But Mr Li's ability to leave the other side something in every deal had ensured the continued flow over the years, said respondents.

  Such an ability requires intimate knowledge of land and construction costs.

  Mr Lee of Henderson was described by another developer as ''having an omnipotent-like knowledge of prices in Hong Kong down to the last cent''.

  Exacting on his staff, he reportedly requires his top people to maintain a similar awareness, accepting no excuses from executives whose market knowledge has slipped.

  Another fanatical deal-maker is Wharf chairman Mr Woo, who will rarely leave the negotiating table when there is still some margin to be squeezed.

  Often described by analysts as tough for less complimentary reasons is the mercurial Mr Lau of Chinese Estates, who maintains a reputation as someone unlikely to settle with a bad bargain.

  A contrarian in the normal mould of Hong Kong bosses is Gordon Wu, whose breezy management style belies the returns his negotiating skills have yielded.

  In organisations across the world, when the boss calls, underlings jump.

  Nowhere is this more true than in Hong Kong's hierarchical structures.

  It is standard for senior executives to receive phone calls in the early hours of the morning from a brainstorming boss and be expected to react immediately to them.

  In the classic family-run Chinese firm, the distinction between private and company life is fuzzy.

  One senior executive at a major developer said: ''You don't question the boss when he calls at 3 am with some silly question. It's an accepted part of your duty to be available 24 hours a day.''   Mr Li is said to be a master in this respect and Philip Tose at Peregrine is one who is apparently used to chewing the fat with Hong Kong's number one insomniac in the early hours.

  Being a company man is also part of life at Hongkong Bank.

  Described as being run like an army boot camp by many who know its workings best, progression through the ranks is a matter of grind for young management trainees, in a culture still defined by the army background of much of the so-called ''Scottish mafia'' who pepper the upper echelons.

  An aspiring manager can be dispatched to a new posting at 48 hours notice and complaints of ''not enough time'' do not cut much ice, it is said.

  Almost universally viewed as the incarnation of that ethos is chairman Sir William Purves, described as a strict task master who rarely balked at displaying his temper against employees when mistakes were made.

  A similar perception surrounds Mr Eddington at Cathay Pacific, whose handling of last year's flight attendant strike earned him a reputation as a ''hard man''.

  Distinct among other inclusions, it seems Mr Eddington's reputation is solely a result of his hardline stance during the dispute.

  Respondents were ambivalent as to his true colours but, given the rarity of major industrial actions, the way he handled the affair has left a deep impression among the business class on what constitutes true grit.

  While companies such as Jardine and Swire tend to be run as Western-style companies, escape from the firm's clutches remains difficult.

  Jardine managers will berate the constant awareness of their public conduct in Hong Kong ''because of who they represent'' and often enjoy the anonymity of foreign postings since ''nobody knows what you're supposed to be in New Zealand or Japan'', said one.

  Western companies in general had a tendency to embrace the Confucian structures of Chinese firms when they set up in the territory said Dr Stephanie Jones, the academic editor of World Executive Digest magazine.

  Taking on the style expected of them by local employees was a common characteristic for bosses who had spent time in Hong Kong, she said.

  Mr Murray, the former boss of Hutchison, was often mentioned in this context.

  While much admired for his toughness, he apparently once said: ''You don't have to go around with a bull whip scaring people. Sure it helps but there are other methods.'' WHILE the old guard who typically made their big fortunes in the late 1970s and 80sare still in control, most respondents agreed the process of passing the torch was well advanced.

  Sitting at the crossroads, Deacon Chiu, the boss of Far East Holdings, was often mentioned as an old school hard man.

  His penny pinching was legendary, with stories of his turning off the elevators to save electricity and providing employees with $5 lai see coupons for Lunar New Year which had to be cashed at the Far East Bank - at a charge.

  Often cited as successful second-generation operators are the Kwok brothers at Sun Hung Kai Properties, who have a reputation as formidable negotiators.

  Other heirs were viewed less favourably.

  The Lee's at Henderson Land, for example, had not convinced many in the property industry of their ability to take over the reins from their father.

  Everyone's favourite story in the media world concerns Mr Li's son Richard.

  His tenure at STAR TV has passed into folklore, with stories of what became known as the ''bark box'' - an intercom system allowing him to yell requests to top managers - parked on the desks of all executives.

        Yet most observers believed current trends meant those such as Richard and his brother Victor would have to do more hard time in the nuts and bolts of the business before assuming overall control.

  ''Too many fathers have now seen their life's work squandered by feckless sons,'' one executive said.



HK'S TOUGHEST BOSSES