Reporters attending the breakfast-time NBC Asia press conference at the Mandarin Oriental Hotel yesterday may have thought they were hearing things. Company president S. K. Fung led the team of Hong Kong-based executives who explained the service's transformation into the National Geographic Asia channel in conjunction with their other NBC executives and members of the joint venture connected by speakerphone to New York. The reasons for the change, which includes a relocation of operation to Singapore and redundancy notices for 75 staff now working in Chai Wan, were dealt with before NBC and National Geographic got on to what the new channel will look like after it goes on air in July. Based on a diet of nature documentaries, the new service will clearly be going after Discovery Channel's audience around Asia. Evidently pleased to have covered the potentially awkward questions adroitly, Mr Fung remarked enthusiastically that the newcomer need not take market share from Discovery. 'For this sort of genre of programming, the appeal is a lot wider [than NBC Asia's]. There is room for both in Asia; that's my feeling.' Anyone who covered the often bitter internecine warfare between Mr Fung's CNBC and bitter rival Asia Business News before the two channels merged in February might have well choked on their Danish pastries at Mr Fung's conciliatory tone. Cross-promotional marketing moved into unexplored territory in Hong Kong this week when Cable TV and the Dao Heng Bank introduced a joint credit card. Cable TV subscribers who apply for a card automatically get the credit to watch one of the network's Cineplex pay-per-view movies worth between $25 and $30 free of charge for every 1,000 bonus points they rack up on their 'Cable Power' Visa. Given the immense popularity of Cable TV's X-rated adult movies already carried on the eight Cineplex channels, there is every chance that the new credit cards could prove to be highly coveted financial instruments.