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June 08, 2004

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Scoop of the year

When Stanley Ho isn't counting his billions from his 12 Macau casinos he's busy with his other business interests including his Portugese shipping line Portline. The SCMP reports:

Casino mogul Stanley Ho Hung-sun has welcomed the central government's drive to attract investment from Hong Kong and Macau tycoons to revitalise northeastern provinces. Mr Ho said after a visit to the Dalian New Shipbuilding Heavy Industries Company yesterday that he intended to place an order for an US$80 million, 300,000-tonne cargo vessel for his Portugal-based shipping company, Portline. Mr Ho said he bought three 400,000-tonne cargo vessels from Japan and the Philippines for Portline, the biggest logistics company in Portugal.

"After visiting Dalian New Shipbuilding Heavy Industries Company, I found that ordering a vessel here is cheaper than placing the order in Japan because of cheaper wages in Dalian," he said.

Holy cr@p, Batman. One of Hong Kong's richest men has just realised he can buy ships cheaper in China's rust belt compared to Japan because wages are cheaper. Most people I know shop around before buying even comparitively minor things like TVs, let alone ships. It seems amazing he has just realised ships may be cheaper in China. I wonder when someone will tell him about the moon landing or that rag-bag peasant army on a long march around China? They say monopolies can make companies lazy and complacent but they obviously dull the owner's brain-power too. Thank God the Sands has opened.

 posted by Simon on 06.08.04 at 05:39 PM in the




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Comments:

well...nice knowing you

 posted by: cf on 06.08.04 at 06:01 PM [permalink]

Perhaps Japan ships offer better value for the money. Cars made in the "rust belt" of Detroit in the early 70's were cr@p. Yet people were laughed at when they bought their Toyotas or Datsuns. Who was laughing 5 years later when their Ford became Fix Or Repair Daily and the Toyota was just cruising along!

Maybe Stanley is getting shaken down...

 posted by: kennycan on 06.09.04 at 12:43 PM [permalink]

nice news
go up portline
i wish you more power in shipping

posted by: george on 08.29.04 at 06:50 PM [permalink]




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