Ocean Park Plan Sets Off A Wave Of Doubts In Legco

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2020-05-19 HKT 15:06

Share this story

facebook

  • Ocean Park plan sets off a wave of doubts in Legco

The bailout plan for Ocean Park is still up in the air with lawmakers repeatedly raising doubts about the theme park's future, with one lawmaker suggesting that it be merged with Hong Kong Disneyland to save it.

Ocean Park is seeking emergency funding saying it will run out of money by next month. The government has proposed HK$5.4 billion in aid to keep it afloat for a year.

But the request was greeted by a wave of scepticism from lawmakers at a Finance Committee meeting, who questioned how the park will survive when government funds run out and what the plans are for the animals in case it shuts down.

Pro-government legislator Junius Ho noted that the facilities and attractions at the park are now "outdated" and that it has failed to take into account changes in trends and tastes.

"Next to the Disneyland theme park, we have land reserved for future developments of Disneyland," he said. "I think we can rejuvenate Ocean Park and move it to where Disneyland is, so the two can merge."

Secretary for Commerce and Economic Development Edward Yau said he had noted Ho's remarks and officials would think about it.

Steven Ho from the biggest pro-Beijing party, the DAB, said he had a dilemma as the park has been called Hongkongers' collective memory, and the animals need a home.

His colleague in the pro-government camp, New People's Party lawmaker Eunice Yung, echoed similar sentiments about the park, but said it has management issues.

Another pro-establishment lawmaker, Liberal Party leader Felix Chung, urged the park to try and restructure some of its debts, saying that it was unfair to expect taxpayers to come to the rescue.

"All businesses are now facing similar difficulties, they’re not willing to pay loans to the banks, and banks are willing to help listed companies, why are banks not willing to help Ocean Park?” he asked.

The DAB’s Elizabeth Quat said the government should withdraw the package and come back to legco with a more detailed plan.

The opposition camp's Shiu Ka-chun asked if the authorities have done a survey to see if people want to keep the park, while Andrew Wan said he had carried out an online poll himself, and 80% of respondents were against the bailout plan.

Ocean Park's CEO Matthias Li said they couldn't ensure the well-being of the 7,000 animals in the park if it were to close.

RECENT NEWS

China CITIC Bank Launches Payment Connect Services To Support Cross-Border Transactions

China CITIC Bank International Limited (CNCBI) has announced it will introduce services and a customer offer related to... Read more

Eddid Financial Secures SFC Approval For Digital Asset Services

Hong Kong’s Eddid Financial has announced that its subsidiary, Eddid Securities and Futures, has received approval fr... Read more

Hong Kong Customs Uncovers HK$1.15B Virtual Asset Money Laundering Scheme

Hong Kong Customs has uncovered a suspected money laundering operation involving cash smuggling and virtual assets tota... Read more

Lendela Partners With TransUnion To Launch Free Credit Score Tool In Hong Kong

Lendela, a loan matching platform based in Hong Kong, has partnered with credit reference agency TransUnion through a c... Read more

Hex Trust Appoints Rohit Apte As Head Of Markets

Hex Trust, a digital asset financial institution specialising in custody, staking, and markets services, has appointed ... Read more

Scaling Across APAC: Why Cross-Border Payments Matter More Than Ever

In today’s digital-first economy, the Asia-Pacific (APAC) region has emerged as a global hotspot for fintech innovati... Read more