One of Hong Kong Cyberport's premier anchor tenants has placed its plans for the development on hold due to Hong Kong's struggling economy.
Oracle's Asia-Pacific executive vice-president, Derek Williams, said the software company remained committed to Cyberport, but the size and timing of its involvement was linked to the performance of its Hong Kong operations.
'For Hong Kong this has not been the most buoyant economy over the last 12 months. Like other companies, we have to watch our expenditures and manage our growth,' he said. 'You've got to be realistic in the market places where you are, and Hong Kong certainly is a place where we are being careful.'
Oracle has been concerned about sales in Hong Kong for some time, describing the SAR last year as being in a 'very difficult position'.
Mr Williams said Oracle's timetable was under review. He said the company had considered locating research labs at Cyberport but had no concrete plans at the moment.
Oracle was one of 15 technology companies touted by the Government as anchor tenants. The companies signed letters of intent to locate in the development when the tech economy was booming but have been less enthusiastic after the downturn.
When the first phase of Cyberport opened earlier this month, none of the anchor tenants took any space, raising questions about the project's viability. Half of the 10-storey initial phase remains empty, with project developer Pacific Century CyberWorks taking three of the five occupied floors.