Show will still go on at Hong Kong's ATV after impending close

 

Source:  SCMP

 

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While the prospect of ATV finding a white knight dims, experts say it is unlikely the beleaguered company would cease operations immediately.

 

Even if the troubled broadcaster was forced to shut down or had its licence renewal denied, there is no timetable for the government to transfer the licence to anyone else to fill the airwaves.

 

In an interview with mainland media Caixin, ATV major investor Wong Ching said discussions with potential buyers had fallen through, leaving the station vulnerable to closure.

 

Accountants, however, said it is not a simple task to wind up a company.

 

Mat Ng, who chairs the restructuring and insolvency faculty executive committee of the Hong Kong Institute of Certified Public Accountants, said a company's shareholders have two options to wind up a company.

 

One would be voluntary liquidation, where the board calls a shareholders' meeting and to secure the support of 75 per cent of shareholders for the move.

 

Another would be an application to court. "The person can submit to the court a petition to wind up. It usually takes about six weeks before the court would hear the case," he said.

 

Different stakeholders can voice their opinion in court, affecting its decision whether or not to issue a winding up order. In rare occasions, it is possible for the board to wind up a company under section 228A of Companies Ordinance, and to appoint a provisional liquidator to wind up the company in mere days.

 

But that requires agreement among board members and is not a usual route to be taken, he added.

 

Apart from the complexities involved, the station and its executive director Ip Ka-po still face prosecution for delaying the payment of wages.

 

The Labour Department has launched three rounds of prosecution against Ip and ..... (article cut to save bandwidth)

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ATV sale talks still going on as major shareholder wrangles over HK$200m

 

Source:  SCMP

 

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Last-ditch negotiations to save cash-strapped broadcaster ATV from collapse are still in progress, with the sticking point being a difference of HK$200 million between the offer and asking price, it has emerged.

 

The South China Morning Post learned that, as of yesterday, a Hongkonger was willing to pay HK$500 million for a 52.42 per cent stake from major shareholder Wong Ben-koon, a relative of mainland investor Wong Ching.

 

But the potential buyer had balked at Wong Ching's insistence on closing the deal at HK$700 million, sources said.

Complicating the picture are different versions of the money wrangling behind the scenes.

 

Wong was quoted in mainland magazine Caixin yesterday as saying that, because the final saviour available had refused on Saturday to come to ATV's rescue, the free-to-air station's days were numbered and it could go off-air in the next few days.

 

But according to the Post's understanding, at least one deal - the HK$500 million offer - is still on the table and that Wong is the one who is unhappy with it.

 

The businessman told Caixin ATV owed him HK$1.8 billion and he was willing to halve the debt to HK$900 million, but offers on the table were "not feasible".

 

ATV spoke up on the Caixin report last night, saying Wong had never said its days were numbered. It also denied owing him HK$1.8 billion.

 

But it reiterated he was still battling for the survival of the television station.

 

Wong could not be reached for comment yesterday.

 

Earlier, Deloitte had urged Wong Ching to lower his expectations, to no avail. The accounting firm is working under a court appointment to look for someone to buy a 10.75 per cent stake from Wong Ben-koon, but has yet to secure any buyer since inviting tenders ..... (article cut to save bandwidth)

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Thursday March 26, 2015 Hong Kong

 

 

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Singing diva, Joey Yung (容祖兒), was well-known to have good body figure and a pair of long legs. On Instagram, Joey sit down to show off her long legs beside the disco balls. Many netizens praised she had a pair of beautiful and fair legs upon seeing her photo. They also expressed their wish to see her upper body and wrote: "Long legs sister, please show us your upper body? Can we touch your smooth legs too?" After all, Joey is the singing queen and it is better to watch than touching it.

Source: ON.CC (HK)
Translated by: tvfan @ Asian E-News Portal
http://www.asian-enews-portal.blogspot.com/

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Thursday March 26, 2015 Hong Kong

 

 

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Emperor Entertainment Group (英皇) artiste, Raymond Lam (林峯) attended the press conference of his company's 15 years anniversary event and this immediately invited shoutings from his fans. Initially, he was supposed to prepare his new album in the US during Lunar New Year, but there was a change of plan. Raymond said: "I will film series in Mainland China first, as need to give opinions during recording. I do not wish to miss the promotion activities due to filming series. I will prepare my album after completed filming in July. My new album will consist trends from Korea and England."

When asked if the company complained when he failed to prepare his album during Lunar New Year, Raymond replied: "Nope. (Dating during that free time?) It is good. The company is fair and wishes to balance every singer. (To make you happy?) Yes and I am overjoyed."

Karena Ng will bring many food to Shanghai and return to hotel after filming

When mentioned his girlfriend, Karena Ng (吳千語) will be filming series in Mainland China, Raymond called her as BB and said: "Yes, BB will be filming series and movies. (Any free time to meet up?) Hope the crew team allows me to visit her. BB goes to Shanghai while I go to Hengdian (橫店) and stay around 4 to 5 months. (Seeing BB despite insufficient sleep?) You know me well." When asked if he will be worried for Karena filming series in Shanghai, Raymond expressed he was not worried as she will be accompanied by her colleagues. Raymond added that Karena brought many food over and she will return to hotel immediately after filming.

Source: ON.CC (HK)
Translated by: tvfan @ Asian E-News Portal
http://www.asian-enews-portal.blogspot.com/

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Thursday March 26, 2015 Hong Kong

 

 

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When mentioned ATV sold off its series, ex ATV artiste, Kristal Tin (田蕊妮) will show her support if her ex-boss could pay salaries to his employees and said: "The artistes act according to their role and it does not matter which television station. (Feel it is a pity?) I have no feelings and what matters most is the company can pay salaries to their staff."

Source: ON.CC (HK)
Translated by: tvfan @ Asian E-News Portal
http://www.asian-enews-portal.blogspot.com/

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Thursday March 26, 2015 Hong Kong

 

 

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The biggest shareholder of ATV, Wong Ching (王征) accepted an interview from Mainland China Website and expressed that the last 'white warrior' officially withdrew his funds to save ATV on last Saturday (21 March 2015). Wong Ching disclosed that most likely ATV will wind up its business by end month and felt there was no hope for ATV to survive.

ON.CC (東網) then messaged the spokesperson for ATV, Mr Wong whom expressed: "The company's operations is functioning as per normal now." He did not respond to other questions thereafter.

Source: ON.CC (HK)
Translated by: tvfan @ Asian E-News Portal
http://www.asian-enews-portal.blogspot.com/

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Thursday March 26, 2015 Hong Kong

 

 

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Ever since married to Julian Hui (許晉亨), beautiful babe, Michelle Reis (李嘉欣), had a blessing and happiness life as 'tai tai'. A few days ago on Weibo, she uploaded photos of herself wearing a hat and admiring flowers. It was suspected that Michelle was enjoying herself in overseas. This morning, she shared a short video clip again. Michelle wore a black shade and appeared to be enjoying her drinks in the aeroplane. Many netizens then requested her to share more beautiful photos of herself and scenery.

Source: ON.CC (HK)
Translated by: tvfan @ Asian E-News Portal
http://www.asian-enews-portal.blogspot.com/

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Thursday March 26, 2015 Hong Kong

 

 

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Ex ATV artiste, Kenneth Chan (陳啟泰) accepted an interview from ON.CC (東網) and in response to the statement made by Wong Ching (王征), he said: "The ideal outcome is to have invester or 'white warrior' to save ATV. If really none, it is not a bad situation for ATV to close down as the employees no longer need to worry about salary issue. Anyway, Hong Kong has two television companies. The closure of ATV should be considered good news to backend staff. It is similar to computer which needs to restart whenever it is shut down.

Source: ON.CC (HK)
Translated by: tvfan @ Asian E-News Portal
http://www.asian-enews-portal.blogspot.com/

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Thursday March 26, 2015 Hong Kong

 

 

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The biggest shareholder of ATV, Wong Ching (王征) expressed that there was no hope for ATV which might wind up its business by end month. When asked about this news, TVB artiste, Myolie Wu (胡杏兒) hoped new television station will set up if ATV was shut down. She said: "Having competition is healthy and I hope new television station will appear."

Source: ON.CC (HK)
Translated by: tvfan @ Asian E-News Portal
http://www.asian-enews-portal.blogspot.com/

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Thursday March 26, 2015 Hong Kong

 

 

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Recently, Jinny Ng (吳若希) was surrounded by endless rumours. A few days ago, Jinny wore a purple dress and revealed her 42 inches legs to attend TVB 2015 Variety Programme Parade (TVB2015綜藝節目推介記者會), together with Fred Cheng (鄭俊弘), Tony Hung (洪永城), Priscilla Wong (黃翠如) and Wong Cho Lam (王祖藍). The reporters discovered that there was something wrong with Jinny's nose, suspected she went for Botox, and her 'pizza' face disappeared as well. The reporters drew out photos of Jinny during the same event and realised her nose indeed had some differences.

Welcomed comparisons between new and old photos

Currently, Jinny was busy filming TVB programme, Street Sorcerers (街頭魔法王) and denied about plastic surgery over the telephone. She explained it was due to make-up and said: "The make-up was very thick and applied dark colour on my nose. Thus, it looked higher." Jinny took the opportunity to promote the series, Young Charioteers (衝線) and said: "You can watch the series, Young Charioteers and see if there is any differences. It will give a clearer comparison based on my side face."

Asked if she will be unhappy when pointed to undergo surgery, Jinny said: "Nope and there is always rumours of undergoing plastic surgery since I entered this line. Earlier, people said I went for plastic surgery and resembled Kay Tse (謝安琪). It is actually a small matter."

Source: ON.CC (HK)
Translated by: tvfan @ Asian E-News Portal
http://www.asian-enews-portal.blogspot.com/

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