About a year ago KGI Asia maintained its 'trading buy'' recommendation on Sunevision Holdings, the technology arm of Sun Hung Kai Properties. Sunevision designs, installs and maintains network infrastructure systems in residential buildings and develops fibre optics and other broadband networks. At the time Sunevision had recently returned a net profit of HK$16.4 million for the first quarter of its financial year. However, turnover fell 7.3 per cent to $61.25 million for the three months to September 30. Sunevision's core business, iAdvantage, which had an occupancy rate of 55 per cent in Hong Kong and China, continued to see an improvement in customer base. KGI said the new clients showed there was still demand for internet data services and the company remained cautiously optimistic. In September Sunevision reported a net loss of $340.77 million for the full year, compared with a loss of $633.85 million in 2002. It recorded an operating profit of $74 million excluding finance costs and before one-off costs. The iAdvantage data centre had an average occupancy rate of 60 per cent. The company remained upbeat about the bandwidth retail market in spite of writing off its stake in a venture capital project with Singapore Telecommunications. Sunevision closed at $1.75 on Friday.