Tung Chee Hwa
In March the same year Richard Li's private company Pacific Century Group won a controversial land deal, acquiring valuable waterfront real estate from the government without any public auction bids. The Hong Kong government, under chief executive Tung Chee Hwa, gave away the land to his new high-tech residential and commercial venture called Cyberport. The development of Cyberport was later injected to PCCW.