Hong Kong firms turn to airports in Shenzhen, Macau
Article Abstract:
Hong Kong exporters diverted their cargo to airports in Shenzhen, China and Macau to avoid problems at Hong Kong's Chek Lap Kok airport. The problems, traced to computer breakdowns that happened immediately after the opening of the new airport on Jul. 6, 1998, has led to the suspension of a large portion of the cargo-handling capacity of the entire territory. Members of the Hong Kong Association of Freight Forwarding Agents are worried that their clients' exposure to lower air freight costs might result in their not coming back to Hong Kong even after the present problem is solved.
Comment:
Hong K: Exporters diverted their cargo to airports in Shenzhen, China, and Macau to avoid problems at Chek Lap Kok airport
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Hong Kong firms turn to airports in Shenzhen, Macau
Article Abstract:
The cargo system failure of Hong Kong's Chek Lap Kok airport has forced exporters of goods, such as garments, watches, and other apparel, to look to other airports, such as Macau and Shenzhen, to handle the load. The new airport, which opened on July, 6 1998, experienced a computer crash which paralyzed its cargo handling operations and is expected to reduce the country's GDP by some 0.1% for the year. Though, the cargo schedule is slowly returning to normal, the increasing cargo fees in Hong Kong are expected to diminish the competitiveness of the country's freight industry.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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CyberWorks stakes out Asia
Article Abstract:
Pacific Century Cyberworks Ltd will be launching a broadband Internet service in 1st qtr, 2000. According to its chairman, Richard Li, the company expects to reach as many as 110 million households as it targets Asia's two largest markets, India and China. Pacific Century Cyberworks, which is traded in Hong Kong, has seen its stock price soar seven-fold since its chairman began transferring privately owned assets into a publicly listed vehicle. The stock's rise has also been helped by the announcement of Intel's decision to invest $50 million in Pacific Century CyberWorks.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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