Goh surprised
by HK Telecom storm
South China Morning Post. April 19, 2000
By BARRY PORTER
PRIME Minister Goh Chok Tong has dismissed Hong Kong's acute sense of rivalry with his country as "bewildering" and "senseless".
"The fact is that neither I, nor my government, nor the people of Singapore regard Hong Kong as the enemy," said Mr Goh, addressing business leaders in the SAR last night.
Mr Goh said he had been surprised by the pocket of emotions Singapore Telecommunications (SingTel) had accidentally struck during its failed merger attempt with Cable & Wireless HKT.
"Many intemperate things were said which I found quite surprising," said Mr Goh, delivering the Singapore Chamber of Commerce's inaugural South East Asia Lecture.
During the HKT takeover saga, some SAR politicians and commentators accused SingTel of attempting to buy out the competition, while others warned of potential Singapore government meddling through the state-linked SingTel.
Mr Goh has vehemently dismissed both notions, insisting it was purely a commercial deal.
"How can it be that we would wish Hong Kong ill?" he said, pointing to the fact that Singapore firms had invested more than HK$50 billion in the SAR.
"Why would we want to see our investment decline in value through a less prosperous Hong Kong?" he said.
HKT's parent eventually preferred a rival bid from Richard Li Tzar-kai's Pacific Century CyberWorks.
Mr Goh was due to meet Mr Li and his father Li Ka-shing yesterday to say he bore no hard feelings and welcomed continuing investment by them in Singapore.
Mr Goh acknowledged there would always be some competitive tension between the two cities but stressed a need to work together.
"I understand the strong attraction of the vast China market for Hong Kong, but Hong Kong should not ignore the South," he said.
"The concern I have is over a North-South divide in Asia in the long term."