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Peggy Sito

Hennessy Centre diggings no fung shui act
The trial over who gets control of Nina Wang Kung Yu-sum's estate is the latest soap opera to grip the city. Every day, there is a new twist or a revelation about the bizarre behaviour of the late billionaire.
One was the story about digging holes at various properties including Chinachem Golden Plaza in Tsim Sha Tsui, in a fung shui-inspired  move she believed would help her find her abducted  spouse Teddy Wang Teh-huei.
Across Victoria Harbour, holes are being dug in Hysan Development's Hennessy Centre redevelopment in Causeway Bay. According to the company's press release, there will be 'several large openings' at lower levels in the redevelopment, which will be completed at the end of 2011.
But these have nothing to do with fung shui. The developer said the openings were aimed at enhancing natural  ventilation and lessening the 'wall effect' in the area.
Mainland affluence story hard to sell 
It is not easy trying to convince overseas investors that many people are buying property on the mainland despite the softening economy, a senior manager  of a Hong Kong-listed mainland developer has told Ah Pak.
He said there were  many affluent investors in the country, especially in the cities where the economy has been backed by private firms for years - cities  such as Foshan, the third-largest manufacturing base in the Pearl River Delta. 
How affluent? 
He related the story of a former classmate of a young executive in the property company who said he had bought 'some' shares in the company. 
The young executive guessed that he had bought a maximum of HK$1 million worth of shares, but the man in his mid-20s said: 'I bought 10 million shares [worth  HK$12 million at the time].'
However, overseas investors usually do not believe in these real stories. So what can the developer do? 
'I usually make up some reasons that I believe they will buy,' the senior management official said.
The top man as a master salesman
One of  New York's best-selling authors said that the top salesman  in an organisation must be at the top of the company.
It's a debatable point, but Ah Pak has come across at least one chief who fits the bill.
In his first lunch with Hong Kong media people last week, the newly appointed managing director and chief financial officer of Shui On Land, Daniel Wan Yim-keung, made a big effort to market the company's Lakeville residential property in Shanghai's upmarket Xintiandi district.
First, Mr Wan said he wanted to buy a unit  at Lakeville.
Then he said: 'When my friends knew I had joined Shui On, they immediately asked me if any units were still available at phase II [of the Lakeville development].'
However, since phase II has almost sold out, Mr Wan said he advised them to wait for phase III, Casa Lakeville.
Just a few days after the lunch, Shui On announced that it would start the sale of Casa Lakeville in Hong Kong this Friday. The developer has appointed Savills  as the sole agent.
Before joining Shui On two months ago, Mr Wan was  Bank of East Asia's chief financial officer.



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Nina Wang

Ah Pak