SETO Holdings, Inc. Forms a New Company SETO -M- Sdn Bhd Malaysia as a Joint
Venture in the Telecommunications Industry
BRIARCLIFF MANOR, N.Y.--(BUSINESS WIRE)--March 6, 2000--SETO Holdings, Inc.
(OTC BB:SETO) announced today the incorporation of SETO (M) Sdn Bhd for a Joint
Venture with Global Electronics Sdn Bhd in Penang Malaysia for the development and
marketing of telecommunication products for the world wide market.
The first products to be launched are: (1) a Windows-based Net PC and NC terminal, (2)
a 1000 S Web and handset for Internet access with built in modem, (3) a SetoTalk
Standalone Internet Phone Device with Speaker Phone and Microphone, and (4) an
ADSL modem for multi user applications. Other products, already in design phase, will
follow in the coming months.
Mr. Gene Pian, president of SETO said, " The new telecommunication products will be
manufactured and marketed by wholly owned subsidiaries or joint venture partners of
SETO Holdings, Inc. The immediate markets will be in SE Asia and China with
expansion into the USA and Europe during first quarter of 2001. SETO (M) is already in
negotiations for an ADSL system for a government project in Malaysia and is expect to
be in production within 4-6 months. Estimated revenue for the first year for ADSL
products alone is $4.4 million."
Adding telecommunication products broadens our customer base, expands the product
lines for SETO's e-commerce web site and increases the profit margins for the contract
manufacturing subsidiaries because we are producing and selling direct to the end
users, said Gene Pian.
Details of each product will be available soon on the SETOHOLDINGS.com web site.
SETO HOLDINGS, Inc., formerly Semicon Tools Inc. has been a public Company since
1987 and operates as a broad based technical manufacturer in two major product
groupings:
Technical products to industry: inclusive of diamond tools, wafer fab supplies and
technical ceramics.
Consumer products: cellular phone batteries, rechargeable batteries for all uses,
consumer electronics such as home theater sound systems, DVD, VCD, VCR players.
"Safe Harbor" statement under the Private securities Litigation Reform Act of 1995
Statements contained in this release which are not historical facts are forward looking
statements that involve risks and uncertainties that could cause actual results to differ
from projected results. Factors that could cause actual results to differ materially include,
among others, economic and political events in or effecting Malaysia, the Company's
dependence on the semiconductor industry and other risk factors detailed in the
Company's Securities and Exchange Commission filings.
CONTACT:
SETO Holdings, Inc.
Gene Pian (Investor Relations)
Tel.: 914/923-5000
Fax: 914/923-6225
stiandecs@aol.com
or
Company web sites:
www.SETOHOLDINGS.com,
www.stidiamond.com |
