Soundwill Holdings' newly acquired Internet-content provider - Netwalk Technology - will start contributing profit next year, according to director Keith Yip Kwai-cheung. Soundwill was considering other Internet-related investments, Mr Yip said. The company would monitor Netwalk's performance before making further moves in the Internet industry, he said. The company obtained approval from shareholders for the $13.3 million purchase of a 35 per cent stake in Netwalk at yesterday's special general meeting. Netwalk is the sole marketing agent for Guangdong Science & Technology Institute. The institute, wholly owned by Guangdong Science & Technology Commission, is the second-largest Internet service provider in Guangdong. The largest is China Telecom. Mr Yip said Soundwill hoped to raise up to $50 million from selling its Sai Kung residential project. The village house development has a gross floor area of 16,800 square feet. He said about 70 per cent of the development had sold. The company would continue to unload its properties to reduce debts, he said.