Hong Kong, Dec. 30 (Bloomberg) -- Richard Li, chairman of Pacific Century CyberWorks Ltd., the largest Internet company in Asia outside Japan by market value, will throw a millennium party that features performances by U.S. pop star Whitney Houston and others, the South China Morning Post reported citing Cyberworks' group Managing Director Alex Arena. Li spent more than HK$20 million ($2.57 million) to fly in Houston and a host of other overseas and local music names such as Sister Sledge, Taiwanese act Dick and the Cowboy, local pop singer Eason Chan and Beijing group Tang Dynasty to entertain 3,000 guests, the paper said. Houston will perform for about an hour at the party, the paper said.

Cyberworks officially changed its name in August from Tricom Holdings Ltd; the stock soared 11-fold on May 4 after budding Internet mogul Li bought control of the firm.