Believing the Internet economy has bottomed, the head of portal Hongkong.com thinks it is time to acquire aggressively.
'I would say the business climate and industry consolidation, if not at the bottom, is close to coming to an end,' chief executive Rudy Chan Kai-yu said.
'Prices are more reasonable and acquisitions look more attractive - it's the right time to invest.'
But he warned any acquisitions by the Growth Enterprise Market company could have an impact on earnings growth in the coming quarters.
His comments came as the company revealed that its profits shrank 85 per cent in the second quarter.
The company would press ahead in its search for investment opportunities in the Greater China region, especially in the travel and media sectors.
Mr Chan said the portal was also considering other offline businesses which could leverage off it.
