Spectrum to close Tokyo, KL offices
THE Hong Kong promoters being investigated by the Association of Tennis Professionals will close their offices in Tokyo and Kuala Lumpur.
Spectrum, who organise the annual Salem Hong Kong Tennis Open, will be shutting down their operations in these two cities by the end of the year.
But they will maintain branches in Taipei and Jakarta.
It is also understood that Spectrum, as part of their 'consolidation' process, have closed one floor of their Hong Kong offices in Wan Chai which housed their golfing operations.
Spectrum are not expected to renew their management contract with the Osaka tennis tournament.
Last week, it was revealed that they lost the rights to the Kuala Lumpur event in September after allegedly withholding prize money of US$400,000.
But Spectrum's Guy Horne said the changes in structure reflect the company's attempts to push the Hong Kong and China markets.
'Basically, we are targeting the areas in which we see our businesses growing,' said Horne.
'There is some growth in Hong Kong but it is a saturated market. Our business is basically in China and all the major decisions, even from our Japanese sponsors, are made in Hong Kong.' Horne said Spectrum have major projects in the pipeline and signed several deals with television sports station ESPN to provide coverage of their events next year.
He added the company have paid the US$400,000 owed as prize money for the Kuala Lumpur event.