enterpriseAsia.com PLC
25 August 2000
enterpriseAsia.com plc ('enterpriseAsia')
Announcement of investment in ecAgent
The directors of enterpriseAsia are pleased to announce the
group's investment in ecAgent.com Limited ('ecAgent' or the
'Company'), which will provide a virtual office environment
to insurance sales agents in the Greater China region.
enterpriseAsia is investing HK$13,350,000 (approximately
£1,156,000) for approximately one third of ecAgent.
ecAgent will offer a comprehensive range of sales
management, administrative, marketing and financial services
to support agents in this rapidly expanding market. With
the support of ecAgent, insurance agents can concentrate on
their daily sales activities and on income generation.
ecAgent will initially offer its services to the Hong Kong
market, but is expected to expand quickly into mainland
China and Taiwan. Given the similarity of these markets,
considerable economies of scale are anticipated as the
business grows. The Directors of enterpriseAsia consider
ecAgent to be the only service of its type in the Greater
China market.
The Company will be managed by a team with significant
experience of insurance and sales within the region.
ecAgent's virtual office service will be provided to
insurance sales agents for a monthly fee and other revenue
sources will be developed over time.
enterpriseAsia will capitalise on potential synergies
between the companies in which it has invested and, as a
result, it is envisaged that ecAgent's information systems
will be developed by iBASE Technology Limited ('iBASE'), a
subsidiary of iBase Holdings Limited.
This is enterpriseAsia's fifth investment since the company
floated on AIM in February 2000. The other investments are
in P&S International Limited, iBase Holdings Limited,
Winshare Technology Limited and CFN (UK) Limited.
For further information please contact:
Phil Brown,
Corporate Relations Director, enterpriseAsia.com plc
Tel: +44 1274 623478
Benjamin Ng,
Chief Executive Officer, enterpriseAsia.com plc
Tel: +852 21 16 5900
Garry Levin,
Assistant Director, Altium Capital Limited
Tel: +20 7484 4040