Horizon to Represent NorStar Interests in Asia
NorStar Group, Inc. (OTCBB:NSTG) announced this morning that it has
entered into a strategic alliance with Horizon Capital of America (HCA)
whereby Horizon will assist NorStar in expanding their operations in
Asia, where Horizon already enjoys a presence.
HCA, known for their established affiliated offices in Hong Kong,
Jakarta, Kula Lampur, and Singapore, will assist VeeAreCity.com in
staffing their offices and merchandising the VeeAreCity-TheBurbs- Far
East Edition.
"I'm very pleased with our new alliance with HCA", said Jay Sanet,
NorStar's Director of Corporate development. "Many people have referred
to us as a 'baby Yahoo' and this baby is growing. This alliance with
Horizon provides VeeAreCity.com with a competitive edge. Horizon will
help us quickly jump-start our advertising sales and customer support
units and they will also be there to help us setup our manufacturing
facilities for our Cybervisor(TM)" VR headgear", added Sanet.
Internet fever in Asia has set off explosive growth. The use of the
Internet in China has increased by a phenomenal 324 percent according
to the China Internet Network Information Center. In 1998, there were
2.1 million users and by the end of 1999, that figure surged to 8.9
million. In Japan sales of PCs have soared 31 percent to 9.22 million
in 1999, despite a general economic downturn. The Japanese Electronic
Industry Development Association said first-time buyers are eager to
get connected to the Internet. And in Korea, the number of Internet
users is over 10 million.
Internet usage in other Asian regions is also experiencing
extraordinary growth. Hong Kong Internet consumption is way up and
still growing. According to Lau Kam-hung, Director of Information
Technology for the government, the number of dial-up accounts doubled
in the period during 1998 and 1999. There are now an estimated 1.5
million users in the region. Singapore, where almost half the
population is already online, is attracting considerable interest as a
potential center for e-business. And In Malaysia $500US million of
goods and services have been sold online in 1999, and this could grow
by 500 percent in the next three years.
Sanet went on to say, "Asia is a giant untapped market for our IVR
(internet Virtual Reality) Chat and Game Rooms and for our
VeeAreCity-TheBurbs-Far East Edition. I can see how NorStar could reap
a bonanza in Asia, and with Horizon's help we're going to get there
quickly".
Through selective acquisitions and partnering alliances, NorStar Group,
Inc. (OTC BB: NSTG) is positioning itself to be a leading provider of
interactive, virtual reality, entertainment, educational, and business
products and services. NorStar is also the co-developer of a
proprietary lightweight, comfortable and affordable virtual reality
headgear, The Cybervisor (TM), which is designed for home, business,
and school.
|
