Hong Kong, November 24, 1999
One Joint Venture Partnership and Three Majority Acquisitions Centered in Mainland China, Hong Kong and Malaysia
— China.com Corporation - the first Pan-Asian, China-focused integrated Internet company listed on NASDAQ (Symbol: CHINA) - today announced the creation of a joint venture and three new majority shareholding acquisitions that reinforce the firm's unique "Build, Distribute, Sell" business model and further supports the firm's position as a leader in the Asian Internet industry.
Commenting on these new investments, Peter Hamilton, China.com Corporation's Chief Operating Officer, said, "These four investments strengthen our ability to serve the Greater China market and the entire Asian region with industry-leading Internet solutions and to ensure that we are associated with world-class Internet technology."
The investments include:
A majority-controlled business-to-business ecommerce joint venture, to be called Beijing Digital Ark, in cooperation with Dr. Jay Tian, one of China's Internet pioneers and one of the country's leading information technology professionals
A majority shareholding in iConcept.net, a Hong Kong-based business-to-business Internet content developer targeting small-to-medium sized enterprises (SMEs) in Greater China
A majority shareholding in Information @ge Ltd., a leading Hong Kong based technology news provider focused on Asia's Internet developments and its transition to an information-driven economy
A majority shareholding in e-Asia Sdn. Bhd., a Kuala Lumpur-based Internet Advertising Specialist that provides total Internet advertising and online direct marketing solutions to advertisers and Web publishers.
Added Mr. Hamilton, "These investments follow on four other acquisitions announced in recent weeks - Netville, CLIC, and A4 Communications in Korea and Pandora Interactive Studio in Singapore - to enable us to further capitalize on the significant Internet-related opportunities that are opening up in Asia and - following the historic trade agreement signed last week between the PRC and the United States governments - in Mainland China."
Beijing Digital Ark to Develop Internet Technology for Tomorrow's Internet Users
Beijing Digital Ark, a new joint venture between China.com Corporation and Dr. Tian, will develop proprietary computer technologies to combat the challenges companies face in effectively utilizing technology, managing data, and conducting e-commerce. The firm already has proprietary applications, both completed and under development, to manage company communications, securely store and disseminate data, and facilitate ecommerce activities. Incorporating the best of international computer technologies, Beijing Digital Ark will develop the architecture and services to ensure that more China-based businesses will be part of the Internet economy.
Dr. Tian, who is joined by a group of highly experienced Chinese information technology professionals in establishing and growing the new joint venture, was the founder of Read Online, one of China's few independent Internet Service Providers. Dr. Tian holds a Doctorate in Computer Science from the University of Pennsylvania, USA, and is a Professor of doctoral programs at the China Academy of Science, Beijing, China.
iConcept.net Compliments China.com Corporation's "Build, Distribute, Sell" Business Model
iConcept.net will work closely with the Web Connection, China.com Corporation's web solutions division, to build ecommerce and Internet strategies and solutions. Specifically, iConcept.net's strengths include e-commerce, web database management, web design, web hosting, portal site solutions and Internet marketing strategies focusing on the SME market in Greater China.
Also, as an authorized Internet advertising agent of 24/7 Media Asia, China.com Corporation's online advertising division, iConcept.net will sell online advertising space in Greater China through the Sinotrade Business Network, which provides banner space for business and commercial clients.
iConcept.net will distribute business and trade information regarding Chinese and Asian companies via China.com Corporation's hongkong.com portal and also through the Sinotrade Business Network.
Information @ge Hong Kong joins China.com Corporation with IT news and information
Information @ge will add a broad selection of timely content focused on Internet and technology trends and developments to China.com Corporation's existing portfolio of tailored content for Greater China audiences. Information @ge content, including news and information, will be carried in both English and Chinese on China.com Corporation's china.com, cww.com, hongkong.com, and taiwan.com portal web sites.
In addition to providing content to China.com Corporation portals, Information @ge Hong Kong will work closely with the Web Connection and its Internet business incubation program, Jumpstart, to further develop its online technology and offerings. 24/7 Media Asia will be Information @ge's exclusive advertising agent. Information @ge will leverage the total integrated Internet services offered by China.com Corporation's "Build, Distribute, Sell" business model.
e-Asia Gives China.com Corporation a Solid Foothold in Malaysia's Growing Internet Market
China.com Corporation's acquisition of e-Asia in Malaysia provides the company with a solid foothold in the growing Malaysian Internet market. e-Asia is Malaysia's leading Internet advertising specialist. e-Asia's well-established network of Internet advertising partners is a natural fit to provide the "Sell" portion of China.com Corporation's business model in Malaysia.
Continuing with their work in Internet advertising with web site owners, advertisers and advertising agencies, e-Asia will also represent China.com Corporation's subsidiaries, 24/7 Media Asia and Web Connection, throughout Malaysia.
About China.com Corporation
China.com Corporation is the first pan-Asian, China-focused integrated Internet company listed in the United States (NASDAQ: CHINA). The company provides a full range of Internet services that; 1) build ecommerce strategy and solutions (the Web Connection), 2) distribute content via its portal network (china.com, cww.com, hongkong.com, and taiwan.com), and 3) sell services through online advertising (24/7 Media Asia). China.com Corporation is committed to enabling digital communities to realize their full potential, thereby facilitating the development of the Internet in China and across Asia. The company has over 700 employees in 17 offices across 10 Asian markets. In Mainland China, the company has five offices and over 200 employees. Corporate shareholders include America Online Inc., Mitsui & Co. Ltd., Bay Networks Inc., Sun Microsystems Inc., Bechtel Enterprises, New World Infrastructure and 24/7 Media Inc.
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