TNAG-2621-FCO40-3812-Visits-by-Alastair-Goodlad--Minister-of-State-for-Foreign-an-1992 — Page 202

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1. Copy BS/GA (d, fax)

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2. M Sbey

Mr Fuenek

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From:

PS/Mr Goodlad

Date:

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3 Mr Woodrowy para 31° 1/5.

ketts, HKD

Mr Ricketts

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CALL BY LORD DERWENT:

1.

30 April 1992

Private Secretary Special Advisers Sir J Coles

Mr Burns

P8/Mr Patten

THURSDAY 30 APRIL

Lord Derwent called briefly on Mr Goodlad this morning. He outlined Mr Li Ka-Shing's business interests, which he said had outgrown Hong Kong. Mr Li Ka-Shing accounted for some 16-17% of the Hong Kong stock exchange. This was undesirable both commercially and politically (it made it diffcult for Mr Li Ka-Shing to stay out of politics, as he tried to do) and he had therefore begun a policy of diversification five or so years ago. The main target areas for diversification were Canada and Europe. In the US Mr Li Ka-Shing had been less successful partly because of his abhorrence of contested takeovers. In the UK his main interests were telecommunications and ports. He would be concentrating on making these profitable before branching out into new areas.

2.

Lord Derwent said that Mr Li Ka-Shing would be visiting the UK towards the end of June. He would like to call on the Prime Minister and the Secretary of State. I gather that Lord Derwent has already mentioned this to Mr Bickham. Lord Derwent thought that Mr Li Ka-Shing would also wish to call on Mr Patten.

3.

Lord Derwent suggested, and Mr Goodlad agreed, that it would be sensible for Mr Goodlad to meet Mr Li Ka-Shing when the Minister visits Hong Kong at the end of May.

HKD 026/13

0 7 MAY 1992

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INDE

30 April 1992

20 YRKE

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Peter Tibber PS/Mr Goodlad