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I was wrong not to correct graduate claims: Richard Li
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Troubled tycoon Richard Li Tzar-kai admitted yesterday he had “ done wrong” in allowing himself to be described as a university graduate, but insisted he had no regrets about failing to complete his course of study.
The Pacific Century CyberWorks chairman admitted that he had seen the misleading reports in the press and had not done anything to change them.
Last week, the tycoon admitted his company had for years described him as a Stanford University graduate when in fact he had abandoned his studies in 1987, nine months before finishing the course, and gone to work for investment bank Gordon Capital in Toronto.
“ Over the past eight to nine years, there were incorrect reports but I did not correct them,” he said. “ I think this is a thing that I have done wrong. I have corrected public relations statements every time I have seen one that contains an error.”
However, referring to mistakes about his graduating, he said: “ I saw them but I did not correct them. If I could do it again, then I would absolutely correct it.
“ Personally, this is a good lesson to me. In future, if there is any incorrect information, even if it only appears in the media, we will try our best to correct it no matter whether it is positive or negative.”
Mr Li said he did not think at the time that such a correction was so important.
“ I certainly think this is a case of negligence,” he said. If he had known the reaction would be so strong, then the error would have been corrected.
Speaking at the airport, the 34-year-old tycoon declined to explain why he did not correct this information when he had repeatedly asked the media to correct other mistakes. “ I think I have said enough,” he said.
He stressed that all official documents in PCCW were correct on his educational background. He said he was unaware at the time that one firm of which he is a non-executive director, Rediff.com in the US, and one of which he was previously a non-executive director, MediaRing.com in Singapore, had filed public statements containing erroneous material concerning his academic record.
Mr Li said he had no regrets about failing to graduate in computer engineering.
“ The knowledge that I got in the investment bank in that two years, in finance and acquisition, was perhaps more than I would have got by staying in Stanford for another nine months,” he said.
He said people should not use his case as an excuse for not finishing their studies, “ but I don't think it is an absolutely positive thing to complete a degree.”
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