Growth Enterprise Market-listed Sunevision Holdings has undertaken a major restructuring by closing down its business solutions division, Super-Office, as well as cutting jobs at its online auction Web site. The revamp involves a staff reduction of less than 50 people, and moving its headquarters to an industrial area in Chai Wan. The restructuring should help save HK$35 million annually, the company said. The technology arm of developer Sun Hung Kai Properties (SHKP) reported a net loss of HK$171 million for the year to June 30. The company said it still had HK$1.84 billion in cash and interest-bearing securities on hand to capitalise on new opportunities, and would refocus on Internet infrastructure and services that had better prospects. The Sunevision move represents the latest restructuring programme among the SHKP group. Earlier, SmarTone Telecommunications also saw its broadband operation merged with its mobile arm, resulting in four job losses. Sunevision managing director Sheridan Yen said: 'This is a highly competitive time in the information technology and e-commerce sectors, and we have had to adapt to changing market conditions in order to operate efficiently and cost-effectively.' The scrapped unit, Super-Office, was set up last year with a staff of 50 and HK$100 million in capital investment. It was an application service provider offering tailor-made software to tenants of office properties owned by Sunevision's parent, SHKP, and for small- to medium-sized enterprises. Staff also were cut from Online auctioneer Red-dots, which has a business plan similar to eBay of the United States. It has 130,000 members and auctions 480 varieties of goods. Sunevision also said it had moved the company's headquarters to data centre Mega-iAdvantage in Chai Wan from the Sun Hung Kai Centre in Wan Chai to save on rental expenses.