The main cash proceeds of eSun Holdings from Media Asia

Lee Po On, CEO of eSun Holdings (0571), said the main cash proceeds of the company would come from Media Asia, adding that the company would make comparatively bigger capital expenditure in the future, such as increasing the shareholding of Media Asia and investing in Macau Film City. 

Mr Lee noted the cash adding the liquid assets of the company was more than HK$400 mln and even the company carried out increasing the stake of Media Asia and investing in Macau Film City, there would be no capital problems. At present, eSun Holdings held 26% shareholding of Media Asia. 

He estimated Macau Film City, which was about 1.5 mln square feet, would be finished in 2 or 3 years HK$300 mln and the investment needed was about HK$300 mln. 

Lee Po On continued to state that eSun Holdings had made provision for its Internet business and no further provision was needed this year.

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