| To: Business Editor | For immediate release |
Jardine Internet to Join Consortium with Commerce One
to Develop China's Premier B2B Portal
15th March 2000 - Jardine Matheson today announced that Group member, Jardine Internet, was to join a consortium with Commerce One, the leader in global e-commerce solutions for business, to establish a China joint venture to develop a business to business ("B2B") portal for exchanging goods and services among businesses worldwide.
The portal will anchor the Hong Kong and mainland China hub of the Global Trading WebTM, the largest B2B trading community in the world, powered by Commerce One.
A letter of intent has been signed by the consortium members, which also include Beijing Enterprises, i-CABLE Ventures, New World China Enterprises Projects, SUNeVision, Swire Net Ventures and WI Harper Group. The partners are prepared to commit a total of US$40 million of initial investment.
Commenting on the announcement, Jardine Matheson Managing Director, Percy Weatherall said, "This exciting new initiative will allow regional companies to exploit fully the opportunities presented by the Global Trading Web and will benefit from the considerable expertise brought by Commerce One. The consortium members provide a powerful procurement force with which to launch the new venture."
The trading portal will comprise many industries including aviation, automotive supply chain, building materials, computers and components, fixed and wireless telecommunications, hotels, medical and healthcare products, retail, shipping and logistics.
The consortium members and their suppliers will be among the first to join the trading community by building domain-specific vertical trade hubs linking current suppliers and buyers. The new venture will also recruit suppliers and buyers from outside existing supply chains and will seek other strategic partners in Asia to extend the range of core industries represented to include sectors such as petrochemicals and finance.
Jardine Internet is a member of the Jardine Matheson group. Jardine Matheson is a multinational group of eight core businesses focused primarily on Asia. Its operations employ over 150,000 people and its activities are leaders in the fields of financial services, supermarkets, consumer marketing, engineering and construction, motor trading, property and hotels. (www.jardines.com)
Commerce One is the leader in global e-commerce solutions for business. Through its products, portals and services, Commerce One creates access to worldwide markets, allowing anyone to buy from anyone, anytime, anywhere. The Commerce One Global Trading Web is the world's largest B2B trading community. Comprising many open e-marketplaces, The Global Trading Web provides unprecedented economies of scale for buying organisations, suppliers and service providers worldwide. (www.commerceone.com)
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For further information, please contact:
| Jardine Matheson Limited | |
| Norman Lyle | Tel: (852) 2843 8216 (office) |
Full text of this and other Group announcements can be accessed through the Internet at "http://www.jardines.com".
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