SPECTRUM boss Lincoln Venancio has finally broken his silence to quash rumours that his Hong Kong-based sports promotion company is on the verge of collapse. Venancio, Spectrum's group general manager, said he was puzzled by the rumours, which came about after a series of events which saw Spectrum lose their contract with the Asia-Pacific Golf Confederation and close their golfing division. It was also revealed that Spectrum, organisers of the Salem Hong Kong Open tennis event, were being investigated by the sport's governing body, the Association of Tennis Professionals. But Venancio said the company have shifted direction to focus on the China, Hong Kong and Taiwan markets, resulting in the closure of offices in Kuala Lumpur and Osaka. 'We are restructuring and looking at the greater China market,' said Venancio. 'And that means being less involved in events in the other countries. 'We are not in trouble and we are looking forward to the future. Frankly, we have built a big part of the sports promotion industry in Asia and we have helped to raise the profile of a lot of sports. 'I'm a bit concerned when I hear these rumours. I have no idea where they come from.' Venancio said he was disappointed the company could not fulfil their contract with the APGC, which required Spectrum to secure a title sponsor for next year's Asian Tour. But he said Spectrum, who he said saved the Hong Kong Golf Open from cancellation four years ago, are still involved in golf. 'Although we will not continue with the Asian Tour, we will continue with the Hong Kong Open and the Indonesia Open,' Venancio said. Spectrum's first major event in Hong Kong was the 1990 Salem Open. They also successfully branched out into other sports including volleyball and table tennis. Venancio added: 'We started the World Volleyball Grand Prix and that is now one of the biggest volleyball events in the world. 'When we came around, there was nothing in terms of big table tennis events in Hong Kong, now the sport has done really well here.' Spectrum are organising the forthcoming international table tennis event in China. They are behind the Salem Asian Tennis Championships, currently being held at Victoria Park, and are also organising next week's tennis exhibition between Michael Chang and John McEnroe at the Hong Kong Stadium. All matches at yesterday's Salem Asian Championships at Victoria Park were postponed because of rain.