Richard Li gives subsidies for sale of PCG's Tokyo building

Hong Kong tycoon with exploiting spirit Richard Li seems interested in doing some extraordinary matters.

When he sold PCCW to consortium led by Francis Leung Pak-to, he provided the unreadable payment way - raising money by seller; and now, he is doing another unusual thing - he will provide the partial subsidies for the sale of Pacific Century Place which owned by Pacific Century Group and was sold with 200 billion yen ($1.7 billion) last week - Mr Li is the group's largest shareholder with 75% interest.

Li sold the group's landmark building in Japan to KK DaVinci Advisors who operates the largest private real estate fund of Japan.

Calculating in 44 thansoud yen each tsubo - Pacific Century Palace's average monthly rent, DaVinci's discount rate is about 2.6%. So, Japan fund hardly approved the deal's nationality to its investors.

However, sources related to deal unveiled PCG provided a rent subsidies for DaVinci, which the rent of PCG keeps the level of 55 thousand yen each tsubo in three years. DaVinci will pick-up catipal from a trust account each month to make up of the gap of the rent.