Word: cyberport
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Dates: during 2000-2000
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...rise of dotcoms. Richard believed satellite transmission of the Internet to TV sets in China and India would be his future, and his Pacific Century Group got $50 million in backing from Intel for that dream in 1998. His next big deal was to develop a high-tech "Cyberport" on a prime piece of land donated by the Hong Kong government--without, strangely, the territory's usual process of taking bids from potential developers. He then created Pacific Century CyberWorks through a so-called back-door listing on the Hong Kong exchange, a procedure in which an existing public company...