Apple Daily to ask for release of assets to pay wages

Apple Daily said on Sunday that it’s asking the government to release part of its frozen assets so it could pay wages, adding it only has enough cash left to run the paper for several more weeks.

Authorities last Thursday froze HK$18 million of assets under three Next Digital companies, as officers arrested five of the media outlet’s directors for allegedly calling for foreign sanctions and breaching the national security law.

Security chief John Lee said he had reasons to believe the assets belonged to a crime syndicate.

Apple Daily reported on Sunday that directors of its parent company, Next Digital, have decided to write to the Security Bureau on Monday to seek the release of part of the frozen fund, so it could pay wages in accordance with labour laws.

“The asset freeze have not just affected wage-paying, but made it difficult for the newspaper to maintain its operation. The company is said to only have enough cash to continue normal operation for several more weeks,” the paper wrote.

The report said the company plans to go to court if the request is denied by the government.

The chief executive of Next Digital, Cheung Kim-hung, and Apple Daily’s editor-in-chief, Ryan Law, have been denied bail after being charged with conspiracy to collude with foreign forces.

Authorities alleged that the duo, along with three Apple Daily executives who are now released on bail, had played a crucial role in the publication of articles that called for foreign sanctions against Hong Kong and mainland officials.

Meanwhile, the president of the pro-Beijing Federation of Trade Unions, Stanley Ng, said Apple Daily should handle staff issues as soon as possible, adding that affected workers can seek help from his union if needed.