Ocean Park development proposal will be given to the LegCo Finance Committee for consideration as soon as possible, the Secretary for Commerce and Economic Development, Edward Yau Tang-wah, said today. The popular theme park, which has more than HK$2 billion debt, has sought more than HK$10 billion public funding. The park recorded a four-year-high deficit of HK$557.3 million in the 2018-19 financial year, double the HK$236.5 million deficit the year before. “Despite the drastic cost cutting measures taken by the Ocean Park Corporation in the past two months, given the high fixed costs, the financial situation has worsened as compared with the situation in January 2020 when it was discussed in the Legislative Council Panel on Economic Development,;; he said. Tourism sector legislator, Yiu Si-wing, said Ocean Park has recorded deficits of more than HK$200 million for successive years since the financial year of 2015-2016.

Source: The Standard April 29, 2020 09:00 UTC