bodyType

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

hooksAmpRedirectArticle

articleSchemaContent

liveArticle

advertZone

sentiment

contentLock

topics

types

sections

paywallTypes

createdDate

publishedDate

urlAlias

moreOnThisArticles

sponsorType

commentCount

authorLocations

authors

corrections

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

articleSpeeches

socialHeadline

headline

images

flag

firstTopic

glossary

flattenTypeIds

image

relatedLinks

relatedNewsletters

__typename

sponsor

pdfFiles

seriesReverseOrder

series

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

readingTime

customTimezone

liveContents

SCMP Reporter

Dragonair shuts office in tourist resort phuket

Hong Kong Dragon Airlines has closed its office in Phuket, signalling an end of the carrier's scheduled services to the popular Thai tourist destination that was badly damaged in December's tsunami.

Dragonair, which had been serving Phuket three days a week, said it had no plans to resume regular flights.

'As demand for travel to Phuket continues to be low, scheduled services have been suspended indefinitely,' the company said in a statement. 'We will continue to serve the island with charter flights in response to market demand.'  Russell Barling

Room rates set for 30pc rise from disney effect

The opening of the Disneyland theme park in September will spur demand for tourist beds and jack up room rates by up to 30 per cent in the fourth quarter of this year, according to property consultant DTZ Debenham Tie Leung.

The theme park is expected to attract an additional 1.4 million visitors to Hong Kong this year, boosting total arrivals to 24.5 million, and bringing hotel occupancy rates to near 100 per cent by the fourth quarter.

During the first four months of this year, hotel occupancy stood at 85 per cent, similar to last year despite an 11.1 per cent rise in tourist arrivals, DTZ Debenham said.  Denise Tsang

tai fook doubles efforts to protect online trading

Tai Fook Securities, one of the largest stock brokerages, plans to enhance security checks for its online trading services  after the world's largest theft of electronic payment data.

Nelson Ying, the chief technology officer and head of online services, said the brokerage had set up a team to deal with any threats to its internet systems.

'We have an online security team that conducts online security audits and drills on our online trading system twice a year. We  plan to increase that to four times a year,' Mr Ying said.

He said the firm had also hired local and overseas computer security companies  to close possible vulnerabilities.

Tai Fook yesterday launched a $4 million eService platform to meet rapid growth in demand for its online trading services.

Mr Ying expected the new platform to draw between 20 and 30 per cent of new online traders in a year's time.  Chandra Wong

gome rules out plans to buy mainland asset

Gome Electrical Appliances Holding said yesterday it had no intention of acquiring equity in mainland audio-visual equipment manufacturer Idall Group, denying press reports it planned to spend $150 million to acquire a 51 per cent stake.

Instead, Beijing Eagle Investment, a mainland firm linked to Gome chairman Wong Kwong-yu, agreed to set up a 51:49 joint venture with Idall to conduct research on markets and new products.

In March, Gome said it  would spend 250 million yuan to open 130 stores in the mainland. Its shares fell 3.18 per cent to close at $7.60 yesterday.  Toh Han Shih

shareholders advised to accept henderson offer

The independent financial adviser for Henderson China Holdings shareholders has recommended accepting Henderson Land Development's $1.38 billion privatisation plan, calling the deal fair and reasonable.

Henderson Land is offering $8 per share, up from $7.50 previously, for the 172.64 million shares it does not own in Henderson China.

This price represents a discount of 36.05 per cent to Henderson China's adjusted net asset value of $12.51 per share.

In a 162-page circular issued to shareholders on Monday, Platinum Securities said the discount was smaller than the average of 56.01 per cent in 12 major privatisation offers since 2003. A special general meeting will vote on the proposal on July 22. If it is approved,  Henderson China will withdraw its listing on August 15.  Foster Wong



Business Digest