CrimsonLogic

Singapore, 15 August 2001 - A new online business site has been announced today with focus on Asia Pacific content and contacts. Called AsianConnect, the business site is the first service introduced by Singapore Network Services (SNS), through its newly-launched corporate brand, CrimsonLogic.

AsianConnect provides real-time market intelligence, interactive and value-added services to help companies target their markets, plan their overseas operations, form strategic alliances and partnerships with minimal risks in the Asia Pacific region, and particularly in Singapore.

Companies can look forward to a virtual business park where they can access business intelligence, identify and do credit checks on potential partners in Asia Pacific, buy credit protection online, and then connect and communicate with their prospects all in one place.

What is unique about AsianConnect is the comprehensive and reliable Asia Pacific market and business information offered. These include:

• International market and business news from 25,000 sources worldwide;
  
• Statistics on economic and population trends;
  
• Investment information;
  
• Reports on trade, market and sectoral activities in different countries in the region;
• Extensive directory information based on a database of 278,000 companies in the region with special focus on the manufacturing, IT, trading and marine sectors;
  
• Credit information ranging from credit risk reports of more than 60 million records in 209 countries worldwide, and credit rating of 35 million companies in 220 countries worldwide to credit protection through buying insurance online;

Users can also perform intelligent searches further using an advanced database search engine on companies registered in Singapore, including directors and shareholders' details.

"The AsianConnect site is currently in its first phase of development. It will grow bigger and better as we gather and provide more Asia Pacific content, company databases and value-added services. Our collaborations with partners in China, Hong Kong SAR, Japan, South Korea, Singapore and Chinese Taipei through the Pan-Asian E-Commerce Alliance, provides us with strategic networks to strengthen our position and customer base," said Mr V Mathivanan, chief executive officer of SNS.

With AsianConnect, companies will have global accessibility to their prospective partners and customers worldwide. They can link up with their overseas partners using the video and web conferencing service which will be available in the second phase of the portal development. The service will allow users to meet and interact online from 60 conferencing location points in Asia Pacific. It also means businesses can enjoy higher productivity and cost effectiveness when they engage in cross-border trade or partnerships.

"The Asia Pacific region is a burgeoning marketplace with ample of business opportunities. Our aim is to provide a beneficial tool that can help businesses simplify their processes and operations. This is crucial especially in the current economic downturn where reliable business intelligence serves as a pertinent tool for making prudent and financial decisions with minimal risk," added Mr Mathivanan.
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The AsianConnect website, www.asianconnect.com, will be launched to the public by the end of September. Membership is free. Directory search on companies and businesses, people, products and services in Asia Pacific is free while charges apply for other services. Members can enjoy benefits such as discounted pricing for ordering of reports, free listing of products and services on the site for companies registered in Singapore, and update their business information on the AsianConnect database whenever they want.

To achieve its goal as the business gateway to the Asia Pacific, AsianConnect enables users to subsequently link to other suite of online services, offered by CrimsonLogic, to carry out cross-border e-Trade and e-Commerce in a trusted and secure environment.

"As businesses globalise and engage in cross-border e-Trade, they are exposed to a different set of trading regulations, risks and challenges relating to security, payment, taxation and legal issues. Businesses can make use of the complete suite of e-Services offered through AsianConnect to facilitate them in their cross-border e-Trade and e-Commerce activities," said Mr Mathivanan.

"Ultimately, AsianConnect enables companies target the right markets and grow their businesses in Asia Pacific," he added.

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