Date
20 August 2017
HKTV chairman Ricky Wong (left) says he is confident the new business will break even soon. Photo: HKEJ
HKTV chairman Ricky Wong (left) says he is confident the new business will break even soon. Photo: HKEJ

HKTV rains free mall dollars in online shop launch

Hong Kong Television Network Ltd. (HKTV) (01137.HK) has opened an online mall which it hopes will be the biggest in Hong Kong.

HKTV distributed HK$100 in spending money to more than 1.23 million registered users, part of a HK$123 million marketing campaign, the Hong Kong Economic Journal reported Tuesday. 

Chairman Ricky Wong said he is confident the new business will break even soon. 

But netizens are balking at the prices, saying certain soft drinks are 40 percent costlier than those sold in supermarkets.

They said the free mall dollars are not enough to cover the price difference.

Most goods are sold at supermarket prices or lower, Wong was quoted as saying.

Meanwhile, Wong said he has no plans to buy into troubled Asia Television Ltd. (ATV) which is on the brink of liquidation after repeatedly failing to pay staff salaries.

HKTV is awaiting a court ruling on its appeal against a government decision denying it a license to operate a terrestrial television business.

ATV and bigger rival Television Broadcasts Ltd. are the two incumbents in Hong Kong’s free-TV market.

Translation by Vey Wong

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