Hong Kong Broadband Network

Last updated

HKBN Ltd.
Native name
香港寬頻有限公司
Company type Public
SEHK:  1310
ISIN KYG451581055  OOjs UI icon edit-ltr-progressive.svg
Industry Telecommunications
Founded23 August 1999 (1999-08-23)
Founder Ricky Wong Wai-kay
HeadquartersHong Kong
Key people
William Yeung
(Executive Vice-chairman)
Services
  • Internet
  • Communication
  • Telecom
RevenueHKD 3.95 billion (2017–18)
HKD 0.4 billion (2017–18)
Number of employees
about 3,000
Subsidiaries
  • Hong Kong Broadband Network
  • HKBN Enterprise Solutions
Website www.hkbn.net
HKBN store in Wong Tai Sin. HKBNWongTaiSin.jpg
HKBN store in Wong Tai Sin.

HKBN Ltd., commonly known for its subsidiary Hong Kong Broadband Network Limited (Chinese :香港寬頻有限公司), is a Hong Kong-based Internet, communication and telecommunication company. [1] HKBN was established on 23 August 1999, it is one of the largest residential and enterprise internet, communication and telecommunications service providers in Hong Kong. [2] [3]

Contents

Originally a subsidiary of City Telecom, HKBN became an independent company in 2014. In February 2019, HKBN held a 35.8% market share of residential broadband subscriptions and a 19.4% share of the enterprise market in Hong Kong. [4] [5] [6]

History

Founding and initial growth

Hong Kong Broadband Network Limited was founded on 23 August 1999 as a unit of City Telecom 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 100 Mbit/s to 1000 Mbit/s. [7]

As of February 2019, HKBN has 864,000 residential broadband subscribers and 58,000 enterprise subscribers, made HKBN the second largest telecommunications operator in Hong Kong after HKT. [8] [ non-primary source needed ]

HKBN Group became a listed company on 12 March 2015 under a new Cayman Islands-incorporated holding company HKBN Ltd.; Hong Kong Broadband Network Limited was under listed company City Telecom (or known as CTI) until CTI sold Hong Kong Broadband Network Limited. In May 2012, private equity firm CVC Capital Partners, acquired the company for HK$4.9 billion. [9] City Telecom (Hong Kong) was then renamed into Hong Kong Television Network. The current holding company of the group, HKBN Ltd., was incorporated on 26 November 2014. [10]

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. [11]

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. [12] [13]

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. [14] [15]

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. [16] Partnering with SmarTone and China Mobile (Hong Kong), HKBN launched mobile services plans for personal and corporate consumers. [17] [18]

Subsidiary

HKBN Enterprise Solutions

In 2016, HKBN acquired the telecommunications and online marketing business of New World Telecommunications (NWT) for HK$650 million; the merger was completed on 31 March. [19] [20] NWT was mainly active in the market of providing telephone phone to business customers; after the acquisition NWT was renamed to HKBN Enterprise Solutions. In 2019, HKBN acquired WTT Holding Corp. and renamed the company to HKBN Enterprise Solutions HK Limited. [21] [22] [23] [24] [25]

See also

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References

  1. ↑ "Company". HKBN. Retrieved 25 September 2019.
  2. ↑ "Co-Ownership". HKBN. Retrieved 9 April 2018.
  3. ↑ "HKBN expands into mobile services market after receiving new license". South China Morning Post. Hong Kong. Retrieved 9 April 2018.
  4. ↑ "Interim Results Announcement for the Six Months Ended 29 February 2019" (PDF) (Press release). HKBN. Retrieved 9 April 2018.
  5. ↑ "Industry Trend Analysis – HKBN's Mobile Service To Support OTT Strategy – OCT 2016". telecomsinsight.com. Retrieved 9 April 2018.
  6. ↑ "Company". HKBN. Retrieved 9 April 2018.
  7. ↑ "HKBN introduces triple-play package" . telecompaper.com. 2 September 2010. Retrieved 2 February 2017.
  8. ↑ "Interim results announcement for the six months ended 28 February 2019" (PDF) (Press release). HKBN. 30 April 2019. Retrieved 29 September 2019.
  9. ↑ CVC, others to raise up to $750m in HKBN IPO, AVCJ
  10. ↑ "APPENDIX IA: ACCOUNTANTS' REPORT ON THE FINANCIAL INFORMATION OF THE GROUP". Global Offering (PDF) (prospectus). HKBN Limited. 27 February 2015. p. IA-12. Retrieved 21 June 2018– via Hong Kong Exchanges and Clearing website.
  11. ↑ "Hong Kong Broadband Network fined for unauthorized promotions disguised as reminder". South China Morning Post. Retrieved 6 February 2017.
  12. ↑ "Media Statements | A Telecommunications Service Provider Convicted of an Offence under the New Direct Marketing Regulatory Regime". Privacy Commissioner for Personal Data, Hong Kong. Retrieved 6 February 2017.
  13. ↑ "HWB | Law Alert – First convictions under Hong Kong's direct marketing regime". Howse Williams Bowers. Retrieved 6 February 2017.
  14. ↑ Chan, Kahon (9 September 2015). "Data abuse: Service provider fined HK$ 30,000". China Daily. Retrieved 6 February 2017.
  15. ↑ "HKBN fined HK$30,000 for breaking personal data law". EJ Insight. 10 September 2015. Retrieved 6 February 2017.
  16. ↑ "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.
  17. ↑ "HKBN - HKBN Trial Launches All-new Mobile Services" (PDF).
  18. ↑ "HKBN Mobile launches Greater China 4G business plans | Computerworld Hong Kong". Computerworld Hong Kong. Retrieved 2 February 2017.
  19. ↑ Morrow, Richard (19 February 2016). "HKBN buys New World telecom". FinanceAsia. Retrieved 2 February 2017.
  20. ↑ "Hong Kong Broadband Network eyes mergers and acquisitions". South China Morning Post. Retrieved 2 February 2017.
  21. ↑ "WTT Renamed as HKBN Enterprise Solutions" (Press release). Hong Kong: HKBN. 1 September 2019. Retrieved 2 September 2019– via marketwatch.com.
  22. ↑ "HKBN Announces Completion of WTT Acquisition" (Press release). Hong Kong: WTT HK. PRNewswire. 29 April 2019. Retrieved 2 September 2019.
  23. ↑ "HKBN Announces Completion of WTT Acquisition" (PDF) (Press release). HKBN. Retrieved 29 September 2019.
  24. ↑ "Hong Kong's telecom operator HKBN to buy WTT in $1.34 billion deal". Reuters. 8 August 2018. Retrieved 14 November 2018.
  25. ↑ "WTT HK and HKBN Announce Proposed Merger" (Press release). Hong Kong: WTT HK. 7 August 2018. Retrieved 14 November 2018.
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