Date
23 January 2017
Douglas Li, who is stepping down as SmarTone CEO, has dismissed speculation that he might take up some assignment for Sun Hung Kai's Kwok family. Photo: HKEJ
Douglas Li, who is stepping down as SmarTone CEO, has dismissed speculation that he might take up some assignment for Sun Hung Kai's Kwok family. Photo: HKEJ

SmarTone’s outgoing CEO refutes talk of possible new assignment

Douglas Li, the outgoing chief executive of SmarTone Telecommunications Holdings (00315.HK), has dismissed rumors that he might take up some work for the family that controls Sun Hung Kai Properties (00016.HK)  

Li told the Hong Kong Economic Journal that he has not been given any special assignment by Sun Hung Kai chairman Raymond Kwok.

In other comments, the telecoms veteran said he expects the industry to undergo a redefinition. 

Li, who has led SmarTone through the ages of 2G to 4G, said he expects the firm’s latest payment service ‘KISS’ to take five to eight years to thrive.

“It needs a captain who can stay in helm long enough, for a five to eight year period. As I won’t be able to that, it is an appropriate time to step down,” Li told the paper in an interview.

The focus on KISS platform suggests that SmarTone is seeking to become an internet-related company, said Marvin Lo, an analyst with Mizuho Securities.

Lo expects the telecoms carrier to partner with companies such as CITIC Telecom International Holdings (01883.HK), which also serves the Macau market.

[Chinese version中文版]

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