Hong Kong’s West Kowloon arts hub sets up subsidiary in revenue drive
Authority announces incorporation of WestK Enterprise Limited to ‘drive commercialisation’ in wake of earlier crisis
The managing authority of Hong Kong’s West Kowloon Cultural District has set up a subsidiary to “drive commercialisation and explore new revenue sources” as it seeks financial sustainability for the arts hub following an earlier crisis.
The incorporation of WestK Enterprise Limited (WKEL), wholly owned by the West Kowloon Cultural District Authority, was announced on Monday, with the appointment of board members having taken effect on November 21.
“As part of the strategies to enhance the long-term financial sustainability of [the authority], [the authority’s board] has approved the establishment of WKEL to drive commercialisation and explore new revenue sources, leveraging the authority’s assets, resources and expertise,” the authority said.
Wendy Gan Kim-see, the authority’s deputy CEO of development, was appointed chief executive of WKEL to spearhead the new vehicle and is responsible for mapping out its business strategies and commercialisation initiatives.
The WKEL board is composed of chairman Bernard Chan, two members, Paulo Pong Kin-yee and Allan Zeman, and two ex officio members, Gan and authority CEO Betty Fung Ching Suk-yee.
Chan is the vice-chairman of the authority’s board. Pong is chairman of Ocean Park and Zeman has been dubbed the “father of Lan Kwai Fong”, a popular nightlife district in Central.
