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biz.yahoo.com
SETO Holdings, Inc. Announces a JV Agreement with Circlecom Sdn Bhd a International Telecommunication Service Company
BRIARCLIFF MANOR, N.Y.--(BUSINESS WIRE)--March 20, 2000--SETO Holdings, Inc. (OTC BB:SETO - news) signed a JV agreement with Circlecom (M) Sdn Bhd a subsidiary of a Public listed company on the Australian stock exchange trade name (Red River LTD) which will be changed to Circle Telecommunications and Technology Limited by the end of March 00. Circlecom is a telecom company that uses VOIP (Voice Over Internet Protocol) www.Circlecom.com to provide telecommunication services to its clients through a network with MCI-Worldcom. Also specializing in the corporate international calling market by creating and maintaining VPN's (virtual private networks) for high traffic situations and video communications for consumers through the distribution of a prepaid calling card.
Circlecom (M) is a division of the CircleCom Group of companies with operations in the USA, Australia, Hong Kong, Japan, Singapore, Indonesia and Malaysia. Some of the group companies are in Web based services such as education www.lparadigm.com , development and marketing of massive multi-player Internet games www.quasiworld.com, and high technology systems integration. Circlecom is one of the few companies with its own network for transmission of international calling traffic which results in the same quality as voice transmission equal to IDD lines.
The JV focus will be to penetrate the Malaysian markets for government projects and to be a significant player in the Malaysian Multinational Super Corridor (MSC) a business, public, banking and government Internet system in Kuala Lumpur. The SETO (M) telecommunication products such as ADSL, Internet phone, computer internet access devices including wireless and other products for the ISP providers that Circlecom requires for their customer base, will bring additional business to the SETO JV, said Gene Pian, President of SETO.
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 and telecommunication devices.
``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.
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Contact:
Investor Relations:
R.F. Services, Inc.
Renee Fisher, 1-888-882-8383
or 714/220-2900
email rfpres@hotmail.com
Company web sites:
www.SETOHOLDINGS.com
www.stidiamond.com
www.ecsceramics.com
www.fujifab.com
www.hk-batteries.com.hk
www.cticomm.com.my
SETO email: stiandecs@aol.com |
