CREATION - Yet another dotcom falls

One of the latest dotcom closures to hit Hong Kong came in early September as daily news website itdaily.com and its sister print publication, Internet Asia, ceased operation following months in the red. The two-year-old website and five-year-old monthly magazine were both published by Regent Pacific. The September issue of Internet Asia, which was still in its production stage, was discontinued. The imminent closure came as no surprise to most employees. Sacked staff told MEDIA that advertising sales had been lacking for some time. "Actually we were expecting this to happen for a long time. The sales people were unable to sell ads and we kept hearing rumours of (a) closure, so it was only a matter of time. Perhaps it was the fault of bad management, or lack of it," one disgruntled employee said. From August last year to June, the company faced an entire staff turnover. Previous editors of the two publications had complained of a lack of resources and quality staff to produce the solutions-based, technical magazine. It was not clear what compensation would be given to staff and advertisers. Singaporean brothers KM Lim and KH Lim, who also hold senior posts at SiS International Ltd, a major Asian distributor of computer hardware and software, jointly ran Regent Pacific.

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