Hong Kong Broadband Network

HKBN
Native name
 香港寬頻有限公司
public company
Traded as SEHK: 1310
Industry Telecommunications
Founded 23 August 1999 (1999-08-23) in Hong Kong
Founder Ricky Wong Wai-kay
Headquarters
Cayman Islands(registered office)
Hong Kong(de facto)
Key people
 William Yeung (CEO)
Services Internet service provider
Revenue HKD 2.34 billion (FY2014-15)
HKD 0.36 billion (FY2014-15)
Number of employees
 over 2,900
Subsidiaries
  • Hong Kong Broadband Network
  • HKBN Enterprise Solutions
Website www.hkbn.net
HKBN store in Wong Tai Sin.

HKBN Limited (Chinese: 香港寬頻有限公司), commonly known for its subsidiary Hong Kong Broadband Network Limited (Chinese: 香港寬頻網絡), is a Hong Kong-based telecommunication company. Hong Kong Broadband Network Limited was established on 23 August 1999, is one of the largest residential broadband and telecommunications service providers in Hong Kong.[1][2] HKBN operates in both Hong Kong and Guangzhou, and employs about 2,900 personnel.[3]

In January 2016, HKBN held a 37.7% market share of residential broadband subscriptions and a 15.4% share of the enterprise market in Hong Kong.[4][5][6]

In May 2012, private equity firm CVC Capital Partners, acquired 100% of HKBN from City Telecom (Hong Kong) for HK$4.9 billion, according to its listing documents.[7] City Telecom (Hong Kong) was then renamed into Hong Kong Television Network.

In 2016, HKBN acquired the telecommunications and online marketing business of New World Telecommunications for HK$650 million; the merger was completed on 31 March.[8][9] New World Telecommunications (NWT) was mainly active in the market of providing telephone phone to business customers; after the acquisition NWT was renamed to HKBN Enterprise Solutions .

History

Founding and initial growth

Hong Kong Broadband Network Limited was founded on 23 August 1999 as an unit of City Telecom (Hong Kong) by Ricky Wong Wai-kay as the first operator to launch "triple-play" (Internet broadband, telephony, IP-TV services) on single network in Hong Kong, as well as the first service provider of residential broadband, with speed ranged from 100Mbit/s to 1000Mbit/s.[10]

As of 2014, HKBN owned 692,000 residential broadband subscribers and 32,000 enterprise subscribers, made HKBN the second largest telecommunications operator in Hong Kong after HKT .[11]

HKBN Group became a listed company on 12 March 2015 under a new Cayman Islands-incorporated holding company HKBN Limited; Hong Kong Broadband Network Limited was under listed company City Telecom (Hong Kong) (or known as CTI) until CTI sold Hong Kong Broadband Network Limited to a private equity fund. The current holding company of the group, HKBN Limited, was incorporated on 26 November 2014.[12]

Violation of the use on personal data

HKBN is the first company in Hong Kong to be convicted under section 35G of the Personal Data (Privacy) Ordinance by the Magistrates' Court since the law amendment in 2013, which states that it is a criminal offence to fail to comply with a requirement from a data subject to cease to use their personal data in direct marketing.[13]

HKBN's conviction relates to a customer complaint in April 2013; the customer had made an opt-out request to HKBN via both email and post and HKBN subsequently acknowledged receipt of the request in writing. However, the customer still received a voice message through their mobile phone in May 2013, informing the complainant of the termination of their service contract as well as to promote other services of HKBN.[14][15]

HKBN pleaded not guilty since the call was merely a service renewal "reminder", however Magistrate Debbie Ng Chung-yee ruled that HKBN used the contract's expiry as an excuse to pitch new services, as promotions of new contracts has not been included in the service scope agreed to by subscribers. HKBN was fined HK$30,000 in September 2015.[16][17]

Expands to mobile broadband

In July 2016, HKBN has secured the Mobile Virtual Network Operator (MVNO) license from the Office of the Telecommunications Authority , as Hong Kong's 26th MVNO, to offer mobile services using its infrastructure of established mobile network operators.[18] Partnering with China Mobile (Hong Kong), HKBN launched mobile services of Greater China 4G plans for corporate consumers.[19]

Subsidiary

HKBN Enterprise Solutions

After New World Telecommunications was acquired, it was renamed to HKBN Enterprise Solutions.

See also

References

  1. ↑ "Co-Ownership | HKBN". hkbn.net. Retrieved 9 April 2018.
  2. ↑ "HKBN expands into mobile services market after receiving new license". South China Morning Post. Retrieved 9 April 2018.
  3. ↑ "Talent-first Culture | HKBN". hkbn.net. Retrieved 9 April 2018.
  4. ↑ "HKBN Limited – Interim Results Announcement for the Six Months Ended 29 February 2016" (PDF). HKEX. Retrieved 9 April 2018.
  5. ↑ "Industry Trend Analysis – HKBN's Mobile Service To Support OTT Strategy – OCT 2016 | Telecommunication Insight". www.telecomsinsight.com. Retrieved 9 April 2018.
  6. ↑ "Company | HKBN". hkbn.net. Retrieved 9 April 2018.
  7. ↑ CVC, others to raise up to $750m in HKBN IPO, AVCJ
  8. ↑ Morrow, Richard (19 February 2016). "HKBN buys New World telecom". FinanceAsia. Retrieved 2 February 2017.
  9. ↑ "Hong Kong Broadband Network eyes mergers and acquisitions". South China Morning Post. Retrieved 2 February 2017.
  10. ↑ "HKBN introduces triple-play package". telecompaper.com. 2 September 2010. Retrieved 2 February 2017. (Subscription required (help)).
  11. ↑ "HKBN clicks fund platform". The Standard. Sing Tao News Corporation. 19 January 2015. Retrieved 2 February 2017.
  12. ↑ "APPENDIX IA: ACCOUNTANTS' REPORT ON THE FINANCIAL INFORMATION OF THE GROUP". Global Offering (PDF) (prospectus). HKBN Limited. 27 February 2015. p. IA-12. Retrieved 21 June 2018 – via Hong Kong Exchanges and Clearing website.
  13. ↑ "Hong Kong Broadband Network fined for unauthorised promotions disguised as reminder". South China Morning Post. Retrieved 6 February 2017.
  14. ↑ "Media Statements | A Telecommunications Service Provider Convicted of an Offence under the New Direct Marketing Regulatory Regime". Privacy Commissioner for Personal Data, Hong Kong. Retrieved 6 February 2017.
  15. ↑ "HWB | Law Alert – First convictions under Hong Kong's direct marketing regime". Howse Williams Bowers. Retrieved 6 February 2017.
  16. ↑ Chan, Kahon (9 September 2015). "Data abuse: Service provider fined HK$ 30,000". China Daily. Retrieved 6 February 2017.
  17. ↑ "HKBN fined HK$30,000 for breaking personal data law". EJ Insight. 10 September 2015. Retrieved 6 February 2017.
  18. ↑ "HKBN plans shake-up of telecoms market with launch of bundled fixed-line broadband and mobile package". South China Morning Post. Retrieved 2 February 2017.
  19. ↑ "HKBN Mobile launches Greater China 4G business plans | Computerworld Hong Kong". Computerworld Hong Kong. Retrieved 2 February 2017.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.