One-off emergency funding requested by Ocean Park will be reduced by half from HK$10.64 billion to HK$5.42 billion, the Secretary for Commerce and Economic Development, Edward Yau Tang-Wah announced today. Without the funding by June, the theme park would have to wind up, Yau said. The struggling theme park, which has been running financial deficits, sought HK$10.64 billion from the public coffers in January to improve its attractions. The popular theme park also has more than HK$2 billion debt. Tourism sector legislator, Yiu Si-wing, said on April 29, that Ocean Park is unable to repay two commercial loans due in the last and current financial years totalling HK$2.3 billion.

Source: The Standard May 11, 2020 06:17 UTC