Hong Kong, February 9, 2000
— chinadotcom corporation (NASDAQ: CHINA, web site www.corp.china.com), the leading pan-Asian, integrated Internet company, today announced that it will provide up-to-the-minute, online financial news and data to Asia's business community with content from financial publisher FinanceAsia. chinadotcom corporation has purchased a 17 % stake in FinanceAsia with a combination of cash and shares.
As part of the agreement, financial information, along with a regular series of finance stories and columns targeted at the Asian business community and produced by FinanceAsia, will be featured on chinadotcom corporation's Greater China portal network, china.com, cww.com, hongkong.com and taiwan.com, in both English and Chinese. Currently, chinadotcom corporation has a two million registered user base throughout Asia.
"At the moment, numerous publications in Asia provide coverage of the institutional financial marketplace in print, but real-time online financial information is simply lacking," said Ian Henry, President International of chinadotcom corporation, "We look forward to working with FinanceAsia to dramatically increase the region's financial awareness via the web."
FinanceAsia is a leading financial publisher and conference organizer, based in Hong Kong. Its titles analyze ground-breaking transactions in Asia's equity, debt and corporate finance markets. Its flagship magazine is Finance Asia. With its award-winning journalists, Finance Asia magazine has a tradition of providing the inside story on the biggest issues affecting the Asian Financial markets.
Commenting on the agreement, Mr. Foster Wright, FinanceAsia's chief executive, said, "Currently, there is plenty of online financial information available to financiers and corporate executives in the United States. The Asian business community, similarly, should have tailored financial content that
speaks directly to them. We are excited to be working with Asia's leading Internet company, chinadotcom corporation, to offer this business service to Asia's web audiences."
The agreement signed with FinanceAsia is one of a number of strategic investments made by chinadotcom corporation since its successful IPO in July of 1999. The company's investment strategy centers around three types of investments. The first, incubation, through the company's Jump Start program, supports seeding of new companies and supports the companies' growth from concept to IPO. The second, acceleration, builds on existing business and accelerates the growth of their online services, while the third category of investments, partnership, enables chinadotcom corporation to join with established Internet companies to enable their entry and expansion into the Asia market.
About chinadotcom corporation
chinadotcom corporation is the first pan-Asian integrated Internet company listed in the United States (NASDAQ: CHINA). The company provides a full range of Internet services that; 1) build e-business strategies and solutions (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). chinadotcom 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 900 employees in 21 offices across 10 Asian markets, including Australia, Hong Kong, Japan, Korea, Malaysia, Singapore, and Taiwan. In Mainland China, the company has nine offices and over 300 employees. Major corporate shareholders include America Online Inc., Mitsui & Co. Ltd., Nortel Network Corporation, Sun Microsystems Inc., New World Infrastructure Limited and 24/7 Media Inc. For more information about chinadotcom corporation, please visit www.corp.china.com.
Based in Hong Kong, FinanceAsia is a leading financial publisher and conference organizer in Asia. Its award winning and flagship title, FinanceAsia magazine, provides in-depth editorial analysis of corporate finance, capital markets and banking in Asia. FinanceAsia also produces Private Capital, a magazine for high net worth individuals and hosts a number of specialist financial conferences across the region.
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