The New Year's countdown fireworks show will be on the taxpayers' tab this year, as two property giants decided to stop sponsoring the event after four years of support.
The end of their support will also mark the last time the spectacular is held on the landmark 88-storey Two IFC, a joint development by Sun Hung Kai Properties, Henderson Land - the two sponsoring developers - and Towngas.
The two companies announced in October that they would stop sponsoring the HK$8.5 million event, but would provide the same venue for this year.
That led to a frenzied search for new sponsors by the Hong Kong Tourism Board, Anthony Lau Chun-hon, the board's executive director, said yesterday.
'Time was tight, so my colleagues had to work longer hours to try to find sponsorship for the event, but until today we had not found any suitable sponsor,' he said.
That is why on top of the HK$5.5 million that the board was prepared to pay, it had obtained funding support of HK$3 million from a government fund, he said. 'We are grateful for the government's support.'
Despite the sponsors' withdrawal, Lau said the board was determined to continue putting the show on because 'it is worth it'.