What you're seeing is the final approach section of the old IGS approach into the old Hong Kong Kai Tak airport. The IGS system essentially guides one towards a checkerboard on the side of a mountain, by the MM one needs to be visual to execute a 40 degree right turn.
I'm sure I have read somewhere that the 747 was designed to be landed in a crab and take the sideload on the gear. This is preferred to landing wing low, to avoid scraping an outboard engine. Anyone know if that is correct or not?