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Pastimes : Crazy Fools Chasing Pacific Century CyberWorks Ltd
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To: ms.smartest.person who wrote (43)8/5/2001 7:58:03 PM
From: ms.smartest.person  Read Replies (1) of 102
 
[00-3-3] SilkRoute E-Commerce Fund To Finance Asian Net Start-Ups

By Adam Creed, Newsbytes.
SINGAPORE,
03 Mar 2000, 2:00 AM CST

SilkRoute E-Commerce Fund To Finance Asian Net Start-Ups 03/03/00 SINGAPORE, 2000 MAR 3 (NB) -- By Adam Creed, Newsbytes. E-commerce group, SilkRoute Group, has launched a S$25 million (US$14.53 million) investment fund for Singapore and Asian Internet start-up companies.

As well as receiving early financing for their online or e-commerce projects, successful Singapore and Asia-based companies will be able to access help from SilkRoute's incubation and investment capital arms.

Singapore's National Science and Technology Board, Hong Kong's Pacific Century CyberWorks Ltd will also contribute toward the fund.

"We want to create a vibrant and exciting Asian e-commerce industry where new ideas are continually generated and entrepreneurs are given an opportunity to take their ideas globally," said TK Wong, chairman of SilkRoute.

At least 30 percent of the fund will be invested in nascent Singapore-based e-commerce companies.

Exchange Rate: $1 = S$1.72

Reported By Newsbytes.com, newsbytes.com

02:00 CST

(20000303/WIRES ASIA, BUSINESS/)

© 2001 The Washington Post Company
newsbytes.com
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