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

Services information, Macao, Article

---

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.

Scheduled Air Transportation, Airports, flying fields, & services, Air transportation, scheduled, Air Cargo Service, FedEx Express, Air freight, Air freight services, FDX, Hong Kong International Airport, Hong Kong Air Cargo Terminals Ltd.

---

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.

Semiconductor Devices, Semiconductor and Related Device Manufacturing, Services introduction, India, Semiconductor industry, Services, Internet service providers, Intel Corp., Investments, Information services, Pacific Century CyberWorks Ltd., Company Profile, Li, Richard

Similar abstracts:

• Abstracts: Canadian firms turn to lucrative intranets. Grocers get ready for Wal-Mart threat
• Abstracts: Japan retailers look abroad. Parts firms look to Japan: industry giants are shopping for local stakes. U.S. ad agencies in Japan stretch wings to win more market share
• Abstracts: Intel is hit with antitrust charges. U.S. reveals witnesses for Intel trial. Intel earnings miss forecast, but improvement is seen
• Abstracts: Row forces Gamberale to quit Telecom Italia. Telecom Italia abandons plans to buy C&W stakes
• Abstracts: Easier to earn points. Cathay rattles rivals. Rivalry reroutes airline perk

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.