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HONG KONG, May 12, 2020 /PRNewswire/ -- Hung Fook Tong Group Holdings Limited ("HFT", SEHK stock code: 1446) and HKBN Group ("HKBN") today announced that they have entered into a long-term Barter and Bundle strategic partnership. Under a 5-year contract valued at over HK$20 million, HKBN will become HFT's key telecom and technology solutions provider in Hong Kong, and will oversee planning and management of HFT's entire IT system; while HFT will extend its exciting product offerings to HKBN's broad customer base by settling part of the telecom and technology services payments to HKBN through HFT coupons, which can be used for the purchase of wellness food and beverage items in over 110 HFT retail stores across Hong Kong. HFT will also deploy dedicated retail stores as convenient redemption locations for HKBN customers to redeem and collect HKBN products and promotional gifts.
With an aim to leveraging HKBN's expertise in IT and digital transformation, HFT's appointment of HKBN will see the telecom and technology services provider manage its IT operations, as well as review, plan, manage and execute its overall IT transformation strategy in the coming 5 years. The immediate benefits from outsourcing IT operations to HKBN include enhanced cost-efficiency and availability of IT resources. To support HFT's long-term business development, HKBN will devise an IT transformation roadmap based on HFT's business needs, operational requirements and budget, all within a comprehensive service scope that covers maintenance, trouble-shooting, upgrading and interconnecting its point of sales (POS) system, inventory control, e-Payment platforms and real time data processing across its entire retail network. This roadmap will pave the way to accelerate HFT's digital transformation and facilitate its future growth.
Dr Ricky Szeto, CEO & Executive Director of HFT, said, "We are excited to engage HKBN as our long-term technology partner, which has impressed us not only with its ICT excellence and business acumen, but most importantly, its great flexibility and agility to achieve a win-win outcome for both HFT and HKBN. Its unique 'Barter & Bundle' model lets us settle part of the telecom and technology solutions payment with HFT coupons, which helps us save costs off the profit margins, and extend our market reach to HKBN customers."
HKBN Co-Owner and Executive Vice-chairman William Yeung said, "At HKBN, we pride ourselves as the only leading telecom and technology solutions provider in Hong Kong that embraces a broad-based Co-Ownership among our Talent base. This entrepreneurial mindset ensures that we can deliver unparalleled flexibility in our offerings and payment terms, and we seek to co-grow with our customers and help them stay ahead of the competition."
About Hung Fook Tong (SEHK stock code: 1446)
Established in 1986 and listed on the Main Board of The Stock Exchange of Hong Kong Limited in July 2014, Hung Fook Tong is a modern wellness concept food and beverage enterprise, offering a wide range of additive-free healthy food products for more than three decades. Currently, it has over 110 retail shops in Hong Kong, thus it is the top retailer of Chinese herbal products in Hong Kong in terms of the number of retail shops. To capture the growth potential of the huge consumer market in Mainland China, the Group's long shelf-life drinks and fresh drinks are sold to third party retailers and distributors in Mainland China. Website: www.hungfooktong.com
About HKBN Group
HKBN Group ("HKBN" or the "Group"), headquartered in Hong Kong with operations spanning across Hong Kong, Singapore, Malaysia, mainland China and Macau, is a leading integrated telecom and technology solutions provider. HKBN's Core Purpose is to "Make our Home a Better Place to Live". The Group is managed by around 930 of Co-Owners (majority of supervisory and management level Talents in the Group) who have skin-in-the-game through investing their family savings to buy shares of HKBN Ltd. (SEHK Stock Code: 1310) or investing a portion of their salary towards a common KPI for the beyond-Hong Kong business of the Group. HKBN operates through three core brands, Hong Kong Broadband Network, HKBN Enterprise Solutions and HKBN JOS. The Group offers a comprehensive range of solutions that include broadband, data connectivity, managed Wi-Fi, integrated cloud solutions, information security, mobile, voice communications, digital solutions, IoT, big data, enterprise applications, data centre facilities, business continuity services, system integration that cumulative to our one-stop-shop offering of Transformation as a Service (TaaS). HKBN's tri-carrier fibre infrastructure in Hong Kong covers about 2.4 million residential homes and 7,300 commercial buildings and facilities. For more information about HKBN, please visit www.hkbn.net/en.
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