CNKT news
Virtual One and ConnectInc.com Launch the Malaysian Trade Electronic Exchange
PR Newswire, Wednesday, December 23, 1998 at 09:47
MOUNTAIN VIEW, Calif., Dec. 23 /PRNewswire/ -- Virtual One Sdn Bhd, the
e-commerce subsidiary of Multimedia Development Corporation (MDC) and
ConnectInc.com (NASDAQ:CNKT) have launched the Malaysian Trade Electronic
Exchange (MTeX). The business-to-business e-commerce initiative is one of the
major projects under MDC's e-commerce trading infrastructure for Malaysian
manufacturers and producers to provide ease of procurement and greater
marketplace accessibility for Malaysian companies and their business
customers. The site is a collaboration of ConnectInc.com's solution services
and an OEM version of ConnectInc.com's MarketStream. It extends the
partnership between ConnectInc.com and Virtual One, which has included other
joint development efforts. MTeX is scheduled for a pilot run with 20 Malaysian
companies early next year, and the repository is expected to soar to
500 companies by the end of 1999.
"MTeX is targeted at commercial buyers of Malaysian products," said
Zurina Datuk Zubir, CEO of Virtual One. "Many of the existing business
Internet sites are e-catalogue and corporate information sites that are not
designed for transactions, and thus result in little or no business
transactions at all. MTeX is designed as a transactional site and is
business-focused."
George Gan, Executive Director of Virtual One added, "We are building a
site that has global trust ... Malaysian brand trust through a world-class
infrastructure. Each company that is registered with us carries the
'e-Malaysia' insignia that immediately tells an overseas customer that
this company is safe to deal with."
ConnectInc.com's president and CEO Craig Norris commented, "We are very
pleased to extend our partnership with Virtual One. MTeX is an example of
using the Internet to support an economic and business model for extending
e-commerce across global boundaries. This effort represents a great example of
ConnectInc.com's new solution business model, where we are able to capitalize
on our extensive experience in business-to-business e-commerce solutions to
deliver value quickly."
About ConnectInc.com
ConnectInc.com provides comprehensive software solutions and services to
enable Internet-based electronic commerce and build the "Connected
Corporation" from any link in the emerging digital supply chain.
ConnectInc.com's webtime-driven professional services assist connected
corporations to build open, multi-vendor e-business solutions that allow them
to compete effectively in the digital economy. For more information, telephone
800-262-2638 or access the ConnectInc.com World Wide Web site at
www.connectinc.com.
About Virtual One
Virtual One Sdn Bhd, is the electronic commerce (e-commerce) subsidiary of
the Malaysian government's Multimedia Development Corporation. Its role is to
support the national e-commerce masterplan by providing strategy and
implementation capabilities to use the power of the Internet to support
Malaysian initiatives.
Except for the historical information contained herein, the matters
discussed in this news release are forward-looking statements that involve
risks and uncertainties that could cause actual results to differ materially
from those in such forward-looking statements. Potential risks include,
without limitation, those mentioned in the Company's 1997 annual report on
form 10-K and the quarterly reports on Form 10-Q for the quarters ending
March 31, 1998, June 30, 1998, and September 30, 1998, and in particular the
Company's ability to implement its revised business model focused on solution
services, acceptance by the marketplace of the Company's services and the
Company's ability to implement its revised business model with its existing
cash resources.
SOURCE ConnectInc.com
-0- 12/23/98
/CONTACT: Craig Norris, President and CEO of ConnectInc.com,
650-254-4015, or cnorris@connectinc.com; or Zurina Datuk Zubir, President and
CEO of Virtual One, in Malaysia, 011-603-966-0699, or Zurinaz@vone.com.my/
/Web site: connectinc.com
Companies or Securities discussed in this article:
Symbol Name
NASDAQ:CNKT Connect Inc
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