Television Broadcasts (TVB) plans to devote more resources to boosting advertising income this year amid a reduction in its client base. Speaking after the company's annual meeting, assistant general manager Cheong Shin-keong said advertising income for the first quarter was similar to the same period last year but retailers had reduced their advertising. Mr Cheong said the company hoped to maintain this year's advertising income at last year's levels. 'Our advertising is under some pressure, we'll try to put in more resources to find more clients,' he said. TVB's Jade and Pearl channels accounted for 41 per cent of advertising expenditure in Hong Kong for the first quarter of this year, according to AC Neilsen. TVB general manager Ho Ting-kwan said 99 per cent of the station's prime-time advertising had been sold until August. Core Pacific-Yamaichi International (Hong Kong) has forecast TVB will reap an extra $85 million in advertising revenue from this year's World Cup, after accounting for programming rights and satellite leasing costs. He said TVB's satellite-based Galaxy channels would be launched on June 27 covering Southeast Asia, Australia, Europe, North America and the mainland. Mr Ho said negotiations were under way to invite new shareholders to join Galaxy but he declined to elaborate. He said TVB recently signed a contract with China Central Television to form a joint venture which would produce 80 hours of drama this year. The general manager of TVB's international operations, Ken Lam Kon-leung, said the company hoped its march into the mainland would make up for losses caused by the currency crisis in Southeast Asia. The company suffered a foreign exchange loss of $19.5 million due to currency turmoil last year.