NOVELTY - A substituted 2-(1-hydroxyalkyl)-chromen-4-one derivatives (IA) or (IB), or its salt, excluding 5-fluoro-3-(3-fluoro-phenyl)-2-((R)-1-hydroxy-ethyl)-chromen-4-one and 5-fluoro-3-(3-fluoro-phenyl)-2-((S)-1-hydroxy-ethyl)-chromen-4-one, is new.    USE - As intermediates in the preparation of pharmaceuticals.    ADVANTAGE - The compound has an enantiomeric excess of at least 75%, 90%, 95%, 97%, or 98%. The process is enantioselective and suitable for large scale production, has high yield, uses non-hazardous reagents and results in less waste.    DETAILED DESCRIPTION - A substituted 2-(1-hydroxyalkyl)-chromen-4-one derivatives of formula (IA) or (IB), or its salt, excluding 5-fluoro-3-(3-fluoro-phenyl)-2-((R)-1-hydroxy-ethyl)-chromen-4-one and 5-fluoro-3-(3-fluoro-phenyl)-2-((S)-1-hydroxy-ethyl)-chromen-4-one, is new.    R=alkyl, alkoxy, alkenyl, alkynyl, cycloalkyl, cycloalkenyl, cycloalkylalkyl, cycloalkenylalkyl, heterocyclyl, heterocyclylalkyl, aryl, arylalkyl, heteroaryl, heteroarylalkyl (all optionally substituted), H, hydroxy, halo, carboxyl, cyano, nitro, -COOR'(x), -C(O)R'(x), -C(S)R'(x), -C(O)NR'(x)R'y, -C(O)ONR'(x)R'y, -NR'(x)R'y, -NR'(x)CONR'(x)R'y, -N(R'(x))SOR'(x), -N(R'(x))SO2R'y, -(=N-N(R'(x))R'y), -NR'(x)C(O)OR'y, -NR'(x)C(O)R'y-, -NR'(x)C(S)R'y -NR'(x)C(S)NR'(x)R'y, -SONR'(x)R'y, -SO2NR'(x)R'y, -OR'(x), -OR'(x)C(O)NR'(x)R'y, -OR'(x)C(O)OR'(x), -OC(O)R'(x), -OC(O)NR'(x)R'y, -R'(x)NR'yC(O)R'z, -R'(x)OR'y, -R'(x)C(O)OR'y, -R'(x)C(O)NR'(x)R'y, -R'(x)C(O)R'y, -R'(x)OC(O)R'y, -SR'(x), -SOR'(x), -SO2R'(x), or -ONO2;    R'(x), R'y and R'z=alkyl, alkoxy, alkenyl, alkynyl, aryl, arylalkyl, heteroaryl, heteroarylalkyl, cycloalkyl, cycloalkylalkyl, cycloalkenyl, heterocyclic ring, heterocyclylalkyl ring, or amino;or    R'(x)+R'y=optionally substituted, saturated or unsaturated 3-14 membered ring containing heteroatoms selected from O, NR'z or S; or an oxo (=O), thio (=S) or imino (=NR'f) groups;    R'f=H or optionally substituted alkyl;    R1=optionally substituted 1-6C alkyl;    Cy1=monocyclic or bicyclic group selected from cycloalkyl, heterocyclic group, aryl or heteroaryl (all optionally substituted);    PG=protecting group;    n=0-4.    INDEPENDENT CLAIMS are included for the following:    (1) preparing the compound (IA) or (IB);    (2) use of the compound (IB) for preparation of a PI3K inhibitor of formula (I), its tautomer, N-oxide, ester, prodrug, and/or salt;    (3) preparation of the PI3K inhibitor (I), involving: treating the compound (IA) with Cy2-H to give the compound (I), and optionally converting the compound (I) to its salt; or treating the compound (IA) with a phosphorus halide or mesyl halide in the presence of a base to give a compound of formula (VIIIa), reacting the compound (VIIIa) with Cy2-H in the presence of a base to give the compound (I), and optionally, converting the compound (I) to its salt;    (4) use of the compound (IA) for preparation of a PI3K inhibitor of formula (II), its tautomer, N-oxide, ester, prodrug, and/or salt;    (5) preparation of the PI3K inhibitor (II), involving: treating the compound (IA) with a phosphorus halide or mesyl halide in the presence of a base to give a compound of formula (VIIIa), converting the compound (VIIIa) to give a compound of formula (IXa), converting the compound (IXa) to give a compound of formula (Xa), coupling the compound (Xa) with a compound of formula Cy2-Lg' in the presence of a base to give the compound (II); and optionally, converting the compound (II) to its salt;    (6) use of the compound (IA) for preparation of a PI3K inhibitor of formula (III), its tautomer, N-oxide, ester, prodrug, and/or salt;    (7) preparation of the PI3K inhibitor (III), involving: treating the compound (IB) with Cy2-H to give the compound (III), and optionally converting the compound (III) to its salt; or treating the compound (IB) with a phosphorus halide or mesyl halide in the presence of a base to give a compound of formula (VIIIb), reacting the compound (VIIIb) with Cy2-H in the presence of a base to give the compound (III), and optionally, converting the compound (III) to its salt;    (8) use of the compound (IB) for preparation of a PI3K inhibitor of formula (IV), its tautomer, N-oxide, ester, prodrug, and/or salt;    (9) preparation of the PI3K inhibitor (IV), involving: treating the compound (IB) with a phosphorus halide or mesyl halide in the presence of a base to give the compound (VIIIb), converting the compound (VIIIb) to give a compound of formula (IXb), converting the compound (IXb) to give a compound of formula (Xb), coupling the compound (Xb) with a compound of formula Cy2-Lg' in the presence of a base to give the compound (IV); and optionally, converting the compound (IV) to its salt;    (10) process for inverting the compound (IA) to yield the compound (IB), involving: reacting the compound (IA) with R'-COOH to provide a compound of formula (IA-II); treating the compound (IA-II) to yield the compound (IB);    (11) process for inverting the compound (IB) to yield the compound (IA) involving: reacting the compound (IB) with R'-COOH to provide a compound of formula (IB-II); treating the compound (IB-II) to yield the compound (IA); and    (12) a composition comprising: the compound (IA) or (IB), and the PI3K inhibitor (I) and (III), where the compound (IA) or (IB) is present in an amount of up to 0.5 wt.%.    Cy2=heterocyclic group, aryl or heteroaryl (all optionally substituted);    L1=absent or selected from -(CR'aR'b)q-, -O-, -S(=O)q-, -NR'a- or -C(=Y')-;    R'a and R'b=H, halo, hydroxy, cyano, optionally substituted (1-6C)alkyl, -NR'cR'd or -OR'c;    R'c and R'd=H, halo, hydroxy, cyano, optionally substituted (1-6C)alkyl, or (1-6C)alkoxy);or    R'c=optionally substituted 1-6C alkyl;    R'a+R'b=oxo group (=O) or optionally substituted, saturated or unsaturated 3-10 member ring, or may optionally include heteroatoms selected from O, NR'd;    R'd=optionally substituted 1-6C alkyl, H or S;    Y'=O, S, or NR'a;    q=0, 1 or 2;    X1=halo or -O-Mesyl;    L2=NH;    Lg'=leaving group;    R'=alkyl or aryl (both optionally substituted).