CREATION - Yet another dotcom falls

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