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Technology Stocks : Softbank Investment International (HK0648)

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To: Yamakita who wrote ()	5/1/2000 11:40:00 AM
From: ghengis2	of 615

Cross-post from RB re China.com JV; looks interesting. Yahoo! Asia - News Newspapers Monday, May 1 10:31 AM SGT BUSINESS: New entity to cultivate investment, initiative A joint venture between Nasdaq-listed Chinadotcom and Softbank Investment International Strategic will be primarily investment-driven while its consultancy will serve as a means to facilitate initiative, according to Chinadotcom president Ian Henry. "Think of it as an investment company," Mr Henry said. "The consultancy side will help give companies the mental push [to expand into new territory]." The proposed 50-50 joint venture - in which Chinadotcom and Softbank Investment (formerly Cheung Wah Development), have pledged to each invest US$100 million eventually - would help Softbank Corp's investee companies in Japan move into Greater China, and Internet-related companies in Greater China move into Japan. Web Connection, Chinadotcom's consultancy arm, would provide technology consultancy. Mr Henry said the shift - be it expansion into a new market or moving from off-line operations to on-line - would often involve the cannibalisation of parts of a company's existing business. "We want to show how it can be worthwhile," Mr Henry said. "After all, if they don't cannibalise themselves, they'll be cannibalised by someone else." He cited a number of examples in the technology and finance sectors where young employees had quit large corporations reluctant to adapt, and set up their own Internet initiatives to compete with them. Chinadotcom and Softbank Investment have so far jointly invested in only one company, Hong Kong-based on-line investment bank e2Capital. -------------------------------------------------------------------------------- Home \| Asia \| World \| Business \| Technology \| Sport \| Entertainment \| Newspapers Questions or Comments Copyright (C) 2000. South China Morning Post Publishers Ltd. All rights reserved Copyright ¸ 1994-2000 Yahoo! Inc. All rights reserved.

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