Government sues PCCW for HK$1.7b

The Hong Kong government has filed a writ in the High Court seeking HK$1.7 billion from PCCW for the development maintenance account for Cyberport, PCCW said yesterday in a stock exchange filing. Cyberport is wholly owned by its subsidiary Pacific Century Premium Developments. PCCW said it set aside HK$200 million, then raised the amount to HK$500 million in 2004. PCCW said the government had not properly consulted it in advance about the increase. The firm said its board was seeking legal advice.