HK Cyber surges over 14%, Wong Yuk Man denies ending electronic newspaper

It was rumored in the market that HKCyber.com (8118) would continue to trim its working force, even to end its electronic newspaper Cyber Daily. Nevertheless, Wong Yuk Man, chairman of the company denied the report of Cyber Daily ending operation and added that the company had no plan of further laying off after the previous cutting down.Mr Wong said that HKCyber and kynet (International) Holdings (0577) were sharing the working staff and the two companies had cut down about 100 people, of which Cyber accounted for 70 to 80 people. The two companies now have about 100 working people.He declared the adjustment to be ordinary action and claimed that there were no plans of trimming the working staff, but he declined to disclose the current financial situation of the company.

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