If Hong Kong Ocean Park is drowning in debt, let it

Hong Kong Ocean Park could once stake claim to be a “mountain of fun” – but is now being buried under a mountain of debt (“Is Ocean Park a ‘failed business’? Bosses reveal billions are owed”, January 20).

Back in 2006, the park unveiled a major HK$5.5 billion redevelopment plan, funded by government and private loans.  The park used the money to build some extremely entertaining attractions, some extremely tacky rides and an Arctic-themed aquarium, designed for beluga whales but subsequently housing sea lions because, they said, public opinion was against it.

This was a laudable sentiment but, unfortunately, it was not the full story, because it was later revealed that the public generally supported the import of the belugas. The most probable reason for abandoning these beautiful mammals was the costs involved.

The Polar Adventure section’s tackiest of decoration and mural work remain an embarrassment to this day.

Having failed so spectacularly in 2006, we are now told that they would like another HK$10.6 billion to undertake a complete revamp.

On questioning, Ocean Park revealed that it already owes HK$5.97 billion which, if my sums are correct, means that it will only be able to invest HK$4.63 billion. That’s even less than the funding in 2006, but the park management somehow seems confident that this will do the trick (“Bosses at Ocean Park must pay for mess”, January 21).

The only trick it will perform will be to pour huge amounts of cash into the coffers of engineering consultants, probably the same ones who have so competently ensured that the new water park is currently behind schedule and massively over budget.

Maybe it’s time to turn off the life support and let the old lady die gracefully.

John Dainton, Wong Chuk Hang