enterpriseAsia.com PLC
21 September 2000
enterpriseAsia.com plc ('enterpriseAsia')
Announcement of Investment in Cybermax
The Directors ('Directors') of enterpriseAsia.com are pleased
to announce its investment in Cybermax Network Technology
Limited ('Cybermax'), a Hong Kong based company operating
websites displaying recruitment advertising for part-time
jobs. enterpiseAsia's total investment in Cybermax is HK$15
million (approximately GBP1,364,000), for a 49% interest in
the share capital of Cybermax.
Cybermax has already launched a website in Hong Kong and
initial positive response has been recorded from both job
seekers and recruiters. New legislation will be introduced in
Hong Kong in December 2000, making it a legal requirement on
all employers to offer provident funds for the benefit of all
full-time employees. Accordingly, the Directors expect that
part-time jobs will form a growing portion of Hong Kong's
market in the future, as they fall outside the requirements
applicable to full-time employees. At present, there is no
print or electronic media that specialises in part-time job
recruitment.
The business of Cybermax is planned to extend beyond Hong
Kong. Similar operations are now being established in China
and Japan; other Asian countries will also be covered
progressively. The large working population in these
countries is expected to support an active part-time job
market which creates demand for recruitment advertising
dedicated to part-time jobs.
Cybermax is managed by a team with in-depth experience in the
fields of marketing, media, audio-visual production, web
design, electronic commerce and project management. They also
offer extensive connections with recruiters and advertisers,
in particular retail chains, public companies and financial
institutions.
For further information please contact:
Phill Brown, Corporate Relations Director
enterpriseAsia.com plc
Tel : 01274 623478
Benjamin Ng, Chief Executive Officer
enterpriseAsia.com plc
Tel : 852 2116 5900
Garry Levin, Assistant Director
Altium Capital Limited
Tel : 020 7484 4040