Word: ka
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...surprising exception has been Tom.com, the Net-age offspring of Hong Kong tycoon Li Ka-shing. When Tom.com went public in February 2000, it looked to be a cynical attempt to cash in on Web fever. The portal had few assets, no track record and a vague business plan. All it offered, really, was the blessing of the legendary Li. For Hong Kong's retail investors, that was enough. They mobbed local banks in hopes of getting their hands on a few shares. If Asia's greatest dealmaker was raising cash, they figured, he was probably going to spend...
...market is approaching saturation. Net growth in subscriptions fell 31.7% in December compared with the same month in 2000, after falling 26% in November, according to Merrill Lynch. While DoCoMo holds a 59% market share, competition for new and existing users is fierce. KDDI's au and Tu-ka services, with 17.7% and 5.7% of the market respectively, offer popular student-discount plans and a phone with a global positioning satellite function. J-Phone, owned by Britain's Vodafone, has forged the deepest inroads by offering a camera-equipped phone called Sha-Mail. Sha-Mail's popularity has increased...
...there's at least one person who believes Global Crossing will rise again: Hong Kong Uber-dealmaker Li Ka-shing. Through a partnership between Hutchison Whampoa, Li's Hong Kong ports/telecoms/electric power conglomerate, and Singapore Technologies Telemedia (STT), owner of Singapore's third-largest phone company, Li has engineered a rescue package. The two companies have bid $750 million to help recapitalize and restructure Global Crossing. If the plan is approved by the courts (it's likely to be controversial because the proposal calls for holdings of mom-and-pop shareholders to be wiped out), Hutchison and STT will wind...
...KA-SHING, it's said, takes a cut from every dollar spent in Hong Kong--and that's not much of an exaggeration. The ubiquitous entrepreneur started in the plastic-toy business in 1950 and propelled himself into real estate, shipping and telecommunications. His secret? Keep dealing. Even before China took over Hong Kong, Li, 73, was investing on the mainland. HUTCHISON WHAMPOA has pushed into the Internet, low-income housing and commercial projects across China. Not surprisingly, Li has the ear of President Jiang Zemin...
Briefly, deliriously, it seemed like old times, as a surprisingly hearty ka-ching kicked off the holiday shopping season. But unlike those of Christmases past, this boom was driven by deep discounts and a spate of patriotic buying--just two signs of how the shadow of Sept. 11 and a bad economy are altering this year's Yuletide...