Hong Kong, November 29, 2000
— chinadotcom corporation (Nasdaq: CHINA Website: www.corp.china.com), a leading pan Asia integrated Internet company, announced today the appointment of Daniel Widdicombe as its Chief Financial Officer. Mr. Widdicombe will report directly to the Chief Executive Officer, Peter Yip. His main responsibility is to manage the company's overall financial systems, control and strategic planning together with senior management colleagues. He will work closely with Peter Hamilton, Chief Operating Officer, and Jack Lin, Chief Investment Officer.
Mr. Widdicombe previously was the Chief Financial Officer of I-Quest Corporation, a Hong Kong-based provider of broad-band access and content to the business traveler in four and five star hotels across 15 countries worldwide. At I-Quest Widdicombe oversaw all financial aspects of the company as it grew from a presence in 4 countries in Asia to 15 countries in three continents, and played an integral role in numerous significant business negotiations, including premier international hotel chain contracts and equipment leasing arrangements. His role included leading the expansion and administration of the legal, finance and administration departments and driving the direction of corporate strategy, in addition to utilizing his 10-year expertise in financial modelling and company valuation to secure sequential institutional investments into the company.
Prior to I-Quest, Widdicombe was the Managing Director of Telecoms and Internet Equity Research at Bear Stearns Asia Ltd, where he worked for 6 years as an investment analyst evaluating and raising funds for companies across the whole of Asia. Widdicombe is a telecoms and Internet specialist, and has acted as primary analyst for several high-profile public offerings, including China Telecom, Pacific Internet, MediaRing.com as well as chinadotcom. He joined Bear Stearns in 1994 from Wardley James Capel where he was a Senior Investment Analyst covering the Telecoms and Utilities sectors. In his 10 years in investment banking Widdicombe has had primary involvement in 14 major transactions, raising over US$6 billion for companies across Asia.
Mr. Widdicombe is fluent in written and spoken Mandarin, Cantonese and Japanese, has lived in Asia for 14 years, and is a First Class Honors graduate of Edinburgh University, Scotland.
chinadotcom CEO Peter Yip commented, "We are delighted to have attracted someone of Daniel Widdicombe's calibre to our company. His long tenure in Asia and deep understanding of Asian business practices complement his intimate knowledge of the financial workings of internet-related companies in Asia. In particular, his unique background knowledge of chinadotcom and subsidiary companies makes him well-suited to tackle the task of managing the fiscal and financial growth of the company in coming years."
About chinadotcom corporation
chinadotcom corporation (NASDAQ: CHINA; Website: www.corp.china.com) is a leading integrated Internet company offering e-business solutions, portal and e-marketing services. Through its three-dimensional business model, chinadotcom provides a full range of Internet services around the Asia Pacific region that; 1) build e-business strategies and solutions (chinadotcom e-solutions), 2) distribute content via its portal network (chinadotcom portals), and 3) sell services through online marketing (chinadotcom e-marketing).
Fuelling the growth of these three business units is a synergistic investment strategy (chinadotcm ventures) that leverages on chinadotcom's existing operational and cost infrastructure. By partnering with companies that have proven and successful track records, chinadotcom is well positioned to create long term shareholder value through its investments.
The company and its subsidiaries have offices in more than 10 markets, including Japan, Korea, Australia, Mainland China, Hong Kong, Taiwan, Singapore, Malaysia, Thailand, UK and the USA. For more information about chinadotcom corporation, please visit www.corp.china.com
Safe Harbor Statement
The statements in this news release may contain forward-looking information that involve risks and uncertainties that could cause actual results to differ from anticipated results. Further information on risk factors that could affect chinadotcom corporation's results of operations is detailed in chinadotcom corporation's registration statements and annual report, as filed with the United States Securities and Exchange Commission.
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