| Abstract | Hong Kong's oldest registered company, Wharf Holdings, may have believed there was profit to be made when it bid for the licence to operate cable-television in the territory. However, its losses in the first half of 1996 have reached $300 million for the network, which has 260,000 subscribers. Meanwhile, the 400 points or so lopped off the Hang Seng Index in early September 1996 left the author's portfolio relatively unscathed. Classy China play Shangri-La Asia has drifted down to $9.85. Unless something untoward and unreported is retarding progress of the five-star hotel chain in the People's Republic of China, Shangri-La is cheap, and surprise packet has been power group Cepa. |
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