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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Rande Is who wrote (15530)	11/23/1999 1:40:00 AM
From: carepedeum2000	Respond to of 57584

asian internet play mentioned today, gotin at 43 1/2 rande-your favorite =low float 2.5 million, this could rock tomorrow SINGAPORE, 1999 NOV 22 (Newsbytes) -- By Adam Creed, Newsbytes. Singapore-based Internet services provider Pacific Internet Ltd [NASDAQ:PCNTF] has created a new e-commerce division to concentrate on developing and providing content and e-commerce services to consumers and businesses in Asia. "Pacfusion.com will be the 'AOL-plus' of the region," said Nicholas Lee, Pacific Internet's chief executive officer. The new division will be the centerpiece of Pacific Internet's drive to diversify from Internet access services into content, online communities, e-commerce, Internet telephony and broadband services. The new operation will shortly launch an Asian portal site combining Net access, online search capability and Web-based services. As well as building the new suite of services to expand on its existing ISP operations in Singapore, Hong Kong, the Philippines and Australia, Pacfusion.com will roll out simultaneously with upcoming ventures in India and China. Pacific Internet already holds an ISP license for India and is looking for joint venture partners in China. "We have been doing due diligence on several companies even before the WTO (World Trade Organisation) breakthrough," said Lee. Pacfusion.com will then set up subsidiaries in twelve market segments - news, leisure, travel, homes, lifestyle, convenience, education, content, shipping, good deals, money and jobs. To grow the online channels rapidly, Pacific Internet said it would offer free broadband-enabled server co-location services for "selected content providers and internationally renowned newspapers and magazines." "Our objective is to capture dominant market share in each of these business segments within the next 2 years," said Larry Ang, Pacific Internet's group general manager (e-Business). The subsidiaries will offer North American and European companies an Asia-wide online promotion and e-commerce platform from which they could launch products and services to the region. The new venture will have funds of US$54 million and is looking for strategic partners and venture capital funds to add an additional $100 million investment. After one or two years Pacfusion.com will be listed separately from Pacific Internet on the Nasdaq exchange. The company says it expects a valuation of between $1 billion and $2 billion from such an offering. Reported By Newsbytes.com, newsbytes.com 01:49 CST Reposted 09:30 CST -0- (19991122/WIRES ASIA, ONLINE/PACFUSION/PHOTO)