Executive Director of Long-Term Partners Ltd group, Mr. Terrence Annamunthodo said, "We have acquired 10 per cent of AsiaEnet in a US$1 million transaction because we believe the company has substantial potential in the Asian region."
Asian Investors Acquire 10% Stake in ZiaSun's AsiaEnet1 Million Investment Will Speed Growth and Development of New Subsidiary
SOLANA BEACH, Calif., March 20 /PRNewswire/ -- ZiaSun Technologies Inc (OTC Bulletin Board: ZSUN) (www.ziasun.com), a US Internet holding company, today announced that a group of Asian investors had acquired a 10 per cent stake in its Asian asset, AsiaEnet Ltd, in a $1 million deal.
The buyers, Hong Kong-based the Long-Term Partners Ltd group, have recently been active making venture capital investments in Internet companies in Hong Kong and elsewhere in Asia.
Executive Director of Long-Term Partners Ltd group, Mr. Terrence Annamunthodo said, "We have acquired 10 per cent of AsiaEnet in a US$1 million transaction because we believe the company has substantial potential in the Asian region."
ZiaSun subsidiary Momentum Internet Inc (www.momentumplus.com) announced the establishment of the new Hong Kong company in January this year to own and develop a range of Asian Internet products and services.
The first project of the new company, AsiaEnet Ltd (www.asiaenet.com), is to launch and market an Asian e-commerce portal to be known as "Tigertooth.com" (www.tigertooth.com), which will be a single on-line location for diverse information catering to businesses and individuals in Asia and throughout the world.
The Hong Kong-based President and Chief Operations Officer of ZiaSun, Anthony L. Tobin, said, "This million dollar investment is a vote of confidence in Tigertooth.com, AsiaEnet, Momentum, ZiaSun and the whole team. This is just the beginning. AsiaEnet has big plans and Tigertooth.com is just the first project. It will fill a void in Asian portals and provide a true business-to-business and business-to-consumer transactional platform."
Momentum is currently in discussions with several parties regarding content acquisitions and strategic partnerships for Tigertooth.com and other possible projects for AsiaEnet.
Mr. Tobin added, "Hong Kong is buzzing with excitement over China and Asian Internet plays, and we are perfectly placed strategically to take advantage of this high level of interest."
About ZiaSun Technologies
ZiaSun Technologies Inc is a leading Internet holding company focused on investor education and e-commerce and specialized online support services within North America, Asia and other international markets. The company's Internet portfolio includes; Online Investors Advantage (www.i-advantage.com), a 27% equity position in Asia4Sale (www.asia4sale.com), AuctionAsia (www.auctionasia.net), Momentum Asia (www.momentumasia.com), ServiceLive (www.servicelive.com), Momentum Internet (www.momentumplus.com), Swiftrade (www.swiftrade.com), PINmail (www.pinmail.com), MEDIAhits (www.mediahits.com), AsiaEnet Ltd (www.asiaenet.com), Tigertooth (www.tigertooth.com), Momentum Finance (www.mfinance.com -- a top-100 financial website) and Search Dragon (www.searchdragon.com).
Note: Any statements released by ZiaSun Technologies, Inc. that are forward-looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward-looking statements invoke risks and uncertainties that may affect the company's business prospects and performance. These include economic, competitive, governmental, technological and other factors discussed in the statements.
CONTACT: In the US: Mark Harris, mark@pinmail.com, or Michelle Cutting,
858-350-4060, or James Neil, 800-773-7317, or in Hong Kong:
Anthony L. Tobin, +852-2866-9323, or atobin@ziasun.com, all of
ZiaSun Technologies
SOURCE ZiaSun Technologies, Inc.
CO: ZiaSun Technologies Inc.; AsiaEnet Ltd.
ST: California
IN: CPR FIN
SU:
03/20/2000 05:13 EST prnewswire.com |
