DOTS, DOTS, B.C. DOTS TO CONNECT
Basi-Virk\The Legislature Raids,Li Ka-Shing & PowerCorp
Sunday, July 06, 2008
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The following presentation is lengthy but it's good. A reader has generously contributed this research on the connections between the players in VANOC and BCRail (an oversimplification on my part). The research is presented exactly as received, for the benefit of others. Send your comments. Very special thanks to the unknown person who gathered and sorted all this information for us. - BC Mary.
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Li Ka-Shing
Terry Hui with former Vancouver city planner Larry
Beasley
The following presentation is lengthy but it's good. A reader has generously contributed this research on the connections between the players in VANOC and BCRail (an oversimplification on my part). The research is presented exactly as received, for the benefit of others. Send your comments. Very special thanks to the unknown person who gathered and sorted all this information for us. - BC Mary.
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Li Ka-Shing
Beasley
FOR IMMEDIATE RELEASE
June 12 2003
RE: Plundering BC: Olympics, The Bid Corp, and Special Interests
1. Who's who in the Bid Corp? Some special members and their 'interests':
-Concord Pacific (Li Ka-Shing and Hui family owned), developer of the former Expo 86 lands (one-sixth of downtown Vancouver) is significantly represented on the Bid Board with David McLean (Chairman of the Board and a Director of Concord Pacific Group Inc.) and Kwok Tun-Li, Stanley (Former Deputy Chairman for Concord Pacific).
2. David McLean is also involved with the following business interests:
a) Founding Chairman of the Vancouver Board of Trade Foundation
b) Founder and Chairman, Vancouver Film Studios (another BC
government-funded private entity)
c) Chairman of the Board, The McLean Group, which has developed numerous residential, office, retail and industrial properties
d) past Chair the Canadian Chamber of Commerce
e) Director, DeHavilland Aircraft of Canada
f) Director, Northwestel
g) Director, CANAC Consultants Ltd.
h) Director, Nu West Group
i) Founding Chairman of Westech Information Systems, the former information systems arm of B.C. Hydro, and led the company through privatization from its parent company
j) Former Chairman of the Board of Coastland Wood Industries
*k) One of twenty-two business delegation members led by Premier Gordon Campbell to attend 2002 World Economic Forum.
-Mr. McLean is also involved with the following business interests:
Chair, CN Rail (frontrunner to purchase the soon-to-be-privatized BC Rail) Founding Chairman of the Vancouver Board of Trade Foundation Founder and Chairman, Vancouver Film Studios
Chairman of the Board, The McLean Group (which has developed numerous residential, office, retail and industrial properties)
Director, DeHavilland Aircraft of Canada
Director, Northwestel,
Director, CANAC Consultants Ltd.
Director, Nu West Group Founding Chairman of Westech Information Systems (the former information systems arm of B.C. Hydro, and led the company through privatization from its parent company). Former Chairman of the Board of Coastland Wood Industries Chair, CN Rail.
3. Stanley Tun-Li Kwok and Bid Corp, reported as 'Mastermind of Expo '86', is also involved in a multitude of multinational businesses:
a) Principal, Stanley Kwok Consultants Inc.
b) Director, Cheung Kong (Holdings) Limited (The Cheung Kong Group, owned principally by Li ka-Shing operates in 41 countries and employs over 163,000 staff worldwide)
c) Development Consultant for the South East Shore of False Creek
d) Director of Omnipoint Corporation, priceline.com Incorporated, VoiceStream Wireless Corporation, Western Wireless Corporation, Global Crossing Ltd., Breakaway Solutions Inc.
d) Director, Amara International Investment Corporation (a Vancouver-based private company specializing in real estate investment and in locating Chinese partnerships for projects).
e) Director, CTC Bank of Canada
f) Director, Husky Energy Inc.
g) Principal, Stanley Kwok & Associates,(worked on the Concord Pacific development on the former Expo lands on the north shore of the Creek)
h) Joint Venture Partner with TYBA Group Inc and Dong Ah Construction Industrial of Seoul, South Korea in the Crystal Project , a CAN$200 million development in suburban Vancouver that also includes 55,000 square feet of office space, a 210,000 square-foot retail area, a 22,500 square-foot conference center and a 218-unit residential complex.
i) Former Director, BC Hydro
j) Director, Bank of Montreal -Vancouver hosted Expo'86, an international event not unlike the scale of the proposed 2010 Winter Games. One and a half years later, then Premier Bill Vander Zalm concluded the sale of the Expo lands (84- hectare site on False Creek, representing one-sixth of downtown Vancouver) to Li Ka-Shing (and the Hui family) for a reported price of $145 million (said by many to be far too low, especially considering the tens of millions of dollars the province spent to complete the environmental clean-up of the site). Subsequently, his company, Concord Pacific Holdings, redeveloped the site into a multi-billion dollar downtown residential community. Bid Board Member, Stanley Tun-Li Kwok describes himself at one of his corporate websites as 'Mastermind of Expo '86'.|
-Mr. Kwok is Former Deputy Chairman for Concord Pacific (Bid Corp Director David McLean is the current Chairman of the Board of Concord Pacific).
-Concord Pacific is the owner of Burcon International Developments Inc., one of North America's leading real estate development, investment and management organizations with assets over C$1 billion and based in Vancouver, B.C.
-Burcon is the controlling shareholder of Oxford Properties Group Inc. (owner of Marathon Realty).
-Mr. Kwok is Principal, Stanley Kwok Consultants Inc. and Development Consultant for the South East Shore of False Creek. He is also a Director of Li Ka-Shing's Cheung Kong (Holdings) Limited (The Cheung Kong Group operates in 41 countries and employs over 163,000 staff worldwide with a combined market capitalization of HK$439 billion as at January 31, 2003).
Kwok is Director, Amara International Investment Corporation (a Vancouver-based private company specializing in real estate investment and in locating Asian partnerships for projects). His additional Directorships include: Li Ka-Shing's companies: Omnipoint Corporation, priceline.com Incorporated, VoiceStream Wireless Corporation, Western Wireless Corporation, Global Crossing Ltd., Breakaway Solutions Inc. and Husky Energy Inc. (Husky Board Members also include: Stanley's wife Eva, Terry
Hui, President and CEO of Concord Pacific Group Inc., Martin Glynn President, Chief Executive Officer and a director of HSBC Bank and Victor Li, son of Li Ka-shing, Managing Director and Deputy Chairman of Cheung Kong (Holdings) Limited Canada). Bank Director positions include: Bank of Montreal and CTC Bank of Canada. Additionally, he is a Joint Venture Partner with TYBA Group Inc and Dong Ah Construction Industrial of Seoul, South Korea in the Crystal Project , a CAN$200 million development in suburban Vancouver that also includes 55,000 square feet of office space, a 210,000 square-foot retail area, a 22,500 square-foot conference center and a 218-unit residential complex.
As noted, Concord Pacific, Li Ka-Shing and Hui family owned, is
significantly represented on the Bid Board with David McLean (Chairman of the Board and a Director of Concord Pacific Group Inc.) and Stanley Kwok Tun-li (Former Deputy Chairman for Concord Pacific).
4. Other Bid Corp directors and their interests:
-HSBC (of which Li Ka-shing is a Principal and Director) is aptly
represented on the Bid Board by Eric Major, Director, HSBC Capital (Canada) Inc. and Milton Wong, Chair, HSBC Asset Management Canada Ltd. (responsible for assets of $4 billion at HSBC). HSBC purchased M.K. Wong & Associates to form HSBC Asset Management Canada Ltd. Merrill Lynch Canada (reportedly owned by Thomas Fung, Fairchild Group) is represented on the Bid Board by Guy Savard, Vice-Chair & Chair, Quebec Operations, Merrill Lynch Canada Inc. Merrill Lynch International is owned by Li Ka-shing and Thomas Fung. Bid Board Member, Ms. France Chrétien-Desmarais is daughter of the Honourable Jean Chretien, Prime Minister of Canada.
-Mr. Chretien, was from 1986 to 1990 a Senior Advisor with Gordon Capital Corporation in Montreal.
-Gordon Capital is principally owned by Richard Li (Li Ka-Shing's son) Gordon Capital owns HSBC Securities.
-Ms. Chretien-Desmarais husband is Andre Desmarais, President and Co-Chief Executive Officer of the family-owned Power Corporation of Canada. Power Corporation of Canada is a diversified management and holding company. Power Corporation of Canada has holdings in leading financial services and the communications sector.
-Through its European-based affiliate Pargesa group, Power Corporation holds significant positions in major media, energy, water, waste services, and specialty minerals companies. Power Corporation also has diversified interests in China.
-Power Financial Corporation is a diversified management and holding company with interests in the financial services industry in North America. Including: Great-West Lifeco Inc.: The Great-West Life Assurance Company, London Life Insurance Company, Great-West Life & Annuity Insurance Company. Investors Group Inc. is one of Canada's leading financial services companies with over $41.6 billion in assets under management and a network of 3,400 consultants.
-Mackenzie Financial Corporation is an integrated financial services company whose core business is the management of mutual funds in Canada, with $33.4 billion in assets under management, and distribution relationship with over 37,000 independent financial advisers. Pargesa Holding S.A. holds significant positions in a selected number of large companies based in Europe. These companies operate in strategic industries including media, energy, public utilities and specialty minerals.
-Gesca Ltée holds a 100 per cent interest in the Montreal daily newspaper La Presse and six other daily newspapers in the province of Quebec and Ontario.
-Power Corporation of Canada is a partner with Li Ka-Shing in CITIC Pacific Limited (China's largest diversified Hong Kong-traded company. Its activities are concentrated in four main areas: infrastructure, trading and distribution, real estate and industrial manufacturing). Mr. Desmarais is a Director and/or Member of the Board of: Great-West Lifeco Inc., Investors Group Inc., London Insurance Group Inc., Pargesa Holding S.A.,
Groupe Bruxelles-Lambert S.A., Bertelsmann A.G. Mr Desmarais is also a Director of CITIC Pacific Ltd. and Bombardier Inc.
-In addition, Mr. Desmarais is Chairman of the Canada China Business Council; Member of the International Advisory Council of CITIC; Member of the Trilateral Commission; Member of the Chairman's International Advisory Council of the Americas Society; Member of the Business Council on National Issues and Member of diverse foundations and trusts in Canada and a Member of the Hong Kong Chief Executive's Council of International Advisers (The CECIA advises the Chief Executive from an international perspective on strategic issues pertinent to the long-term development of
Hong Kong).
- Ms. Chretien Desmarais' husband Andre Desmarais
-Also on the 2010 Games Bid Board is Mr. Laurent Beaudoin, Chair,
Bombardier Inc. Bombardier stands to gain significantly from their supply of the $1.5 billion to $2 billion Vancouver/Richmond Rapid Transit line proposed by the 2010 Bid Corp.
5. Bid Corp and the Sea to Sky Corridor:
The ski resort industry stands to make significant profits from the 2010 Winter Games.
-Intrawest is represented on the Bid Board by Doug Forseth, Senior VP, Operations, Whistler and Blackcomb Mountains. TAL Global Asset Management (owned by CIBC) is the largest institutional shareholder of Intrawest (reportedly 15%). Li- Ka-shing is the largest shareholder (maximum allowable 10%) of CIBC. CIBC owns Wood Gundy. Intrawest is the leading developer and operator of village-centered destination resorts across North America. Intrawest owns or is involved in 14 mountain resorts in North America and Europe along with two warm-weather resorts in the U.S.
-The company also has an interest in Alpine Helicopters Ltd., owner of Canadian Mountain Holidays, the largest heli-skiing operation in the world and Compagnie des Alpes, the largest ski operator in the world in terms of skier visits (13 million in 2000/2001).
-Intrawest also has land on which to build 20,000 more units. Intrawest holdings include ski resorts, residential communities, retail, hotels and lodges.
-The Bid Corp. has identified rental costs payable to Intrawest for
facility usage during the Winter Games at $10 million to $30 million. In addition to Concert Properties' real estate development interest in other ski resorts and Intrawest's vast resort holdings, other Bid Board members are intimately involved in the ski resort industry, including:
a) Kerrin Lee-Gartner (listed as Canadian Olympic Athlete - Alpine Skiing) is Principlal, Kerrin Lee-Gartner's Snow Creek Lodge and Principal, Fernie Alpine Resort
b) Nancy Greene Raine (listed as Director of Skiing, Sun Peaks Resort; Canadian Olympic Athlete - Alpine Skiing) is Principal, Nancy Greene's Cahilty Lodge, Sun Peaks, BC; President, NGR Resort Consultants Inc.; Proponent with husband Al Raine of Melvin Creek/Cayoosh, $500 million four-season ski resort (90 minute drive from Whistler). Al Raine was responsible for the planning of Whistler.
-Mr. Caleb Chan (along with brother Tom Chan) has considerable businesses assets in British Columbia and abroad. Of particular note are the holdings in Vancouver, Furry Creek, Whistler, etc. directly impacted by the 2010Vancouver/Whistler Olympic Games:
Mr. Chan serves as:
b) President & Chairman, The International Land Group, San Francisco
c) Director, UBC Properties Trust
d) Director, Belkorp Industries Inc. - Through several companies active in British Columbia, Alberta, Washington, and Oregon, the Belkorp Group owns and operates: an extensive portfolio of properties comprising approximately ,500 residential apartment suites, five industrial sites, and Big Sky Golf, an award-winning course, conveniently located near Whistler in the Pemberton Valley of British Columbia. In addition, the Belkorp Group invests in various long-term business opportunities as a merchant banker. Its holdings include significant interests in Rogers Sugar Income Fund and Canadian Hotel Income Properties Real Estate
Investment Trust (CHIP REIT), an integrated hotel real estate investment trust focused on mid-market and upscale full-service hotels. CHIP REIT currently owns or manages 38 hotels with approximately 8,400 rooms. The Belkorp Group owns and operates four businesses in the pulp and paper production industry: Newstech BC reprocesses 165,000 tonnes of used newsprint annually at its ISO9002 production facilities in Coquitlam,
British Columbia, producing recycled pulp for the newsprint industry;
Wastech Services one of the largest privately-owned solid waste management companies in British Columbia, handles approximately 600,000 tonnes per annum of municipal waste at three transfer stations in Greater Vancouver and operates a landfill at Cache Creek for the GVRD ; Belkin Paper Stock brokers waste paper from suppliers in Western Canada and the U.S. to mills which use recycled fiber. This company also has established a newsprint roll splitting and rewinding operation in Coquitlam. Waste-Not Recycling and Disposal, located in Richmond, British Columbia, provides recycling and waste removal services for the residential, industrial, commercial, and institutional sectors of the Greater Vancouver, British Columbia region.
e) Director, Board of Trustees, Canadian Hotel Income Properties
f) Principal, GolfBC Properties: Kelowna: The Okanagan Golf Club, The Bear at Okanagan Golf Club, The Quail at Okanagan Golf Club, Gallagher's Canyon Golf & Country Club, The Pinnacle Course at Gallagher's Canyon Whistler:
Nicklaus North Golf Course & Crystal Lodge Furry Creek: Furry Creek Golf & Country Club Vancouver: Mayfair Lakes (Richmond) & Burrard Golf & Tennis (at Burrard & Alberni, Vancouver) Vancouver Island: Arbutus Ridge Golf &
Country Club (Cobble Hill) & Olympic View Golf Club (Victoria) Other GolfBC properties: Burrard Golf & Tennis & The Crystal Lodge, Whistler
g) Principal, CRC Developments Ltd.( The company owns golf course residential developments)
h) Principal, Gallagher's Canyon Land Development Ltd.
i) Nicklaus North, in Whistler, B.C. and Arbutus Ridge on Vancouver Island are two examples of communities CRC has developed.
j) Currently in the planning stages is the development of a new community at the Olympic View Golf Course in the Victoria area on Vancouver Island.
k) Goldenwood Townhouse Project, Whistler, BC.
l) member of the advisory board of the Asia Pacific Initiative in Vancouver
m) Director, B.C. Housing Management Corporation
n) Director, Land Planning Committee of the Loma Linda University Development Corporation
Perhaps this is a good time to re-visit the $billion question:
6. The Toronto 2008 Bid: Connections or Coincidences?
-Li’s Concord Pacific's City Place is a 44-acre development site in
downtown Toronto, on which 5.5 million square feet of residential and commercial space are to be built.
-Li Ka-Shing also holds an exclusive right to use the CN Tower for a period of 35 years (obtained for $2 billion CDN). Financier Robert
Fung, was appointed by Prime Minister (and former business partner) Jean Chretien to Chair the Toronto Waterfront Revitalization Task Force on behalf of the Government of Canada, the Province of Ontario and the City of Toronto. The new corporation was to involve construction of large-scale infrastructure projects that would permanently improve Toronto's waterfront, as well as support the city's bid for the 2008 Olympics.
-His report detailed a strategic business plan for the $12 billon renewal, development and financing of Toronto's waterfront. Fung was afterward appointed as Chair of the Toronto Waterfront Revitalization Corporation.
-Robert A. Fung is Deputy Chairman of Yorkton Financial Incorporated. From 1980 to 1997, he was the vice-chairman and a director of Gordon Capital Corporation.
-He began his career in the investment industry in 1964 with Wood Gundy. He is Chairman of Crystallex International Corporation, SMART Toronto as well as a director of Canada's Export Development Corporation, Asia Pacific Foundation of Canada, GLOBE Foundation of Canada, and StockHouse
Media Corporation.
-He was a member of the Prime Minister of Canada's Advisory Committee on Asia Pacific Economic Cooperation, as well as a member of the Government of Canada's Department of Industry International Trade and Agriculture Team Canada Inc. Advisory Board, which provided advice to the Government
of Canada in setting strategic direction and performance objectives for
Canada's International Business Development.
-He was also deputy-chairman of high-tech brokerage Yorkton Securities Inc. and Executive Chairman of Crystallex International Corp.
-Fung's son Robert Fung Jr. worked as a developer on Vancouver's False Creek development with Concord Pacific Group Inc.
-Fung's university roommate, long-time friend Paul Martin, prime minister in waiting, was a former senior executive with Power Corp. and Consolidated Bathurst. Martin served as CEO of both CSL Inc. and Canada Steamship Lines. Martin eventually purchased Canada Steamship Lines from Power Corp. for $180 million.
7. Who benefits the most from the 2010 Winter Games and the associated mega projects?
RAV:
-Original Bid Society Member, Arthur Griffiths, was Chair of Public
Consultation, Rapid Transit Project 2000, charged with the public-view
task of addressing our rapid transit needs.
Convention Centre:
-Bid Board Members are on the Convention Centre Expansion Task Force Chair Peter Armstrong and Rick Antonson, Member & Spokesperson, Convention Centre Expansion Task Force who are the ones that have told us how badly we need the expansion, irrespective of the Winter Games.
-The three approved Convention Centre Expansion bidders were Concert
Properties, Concord Pacific and Marathon Realty.
-2010 Bid Board Members: Jack Poole, David Podmore and Ken Georgetti proposed to build the Convention Centre, inclusive of a casino, almost a decade ago. Sea To Sky Highway as well.