daiichi

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Daiichi

The Star 31/3/00 - Dai-ichi Industries Bhd announced yesterday it has signed a MoU with Imperial Technologies Pty Ltd (Imptech) of Australia for a joint investment of 90% in OzSearch Internet Guide Pty Ltd. Under the accord it had a call option to acquire a 25% stake in OzSearch for A$312,500. Imptech is a wholly-owned subsidiary of Imperial One International Ltd an Australia-listed company with a market capitalisation of about A$90mil. Imperial One has entred into an agreement with the shareholders of OzSearch to acquire 90% equity stake in OzSearch Imperial, also a 13.8% foundation shareholder Catcha.com Pte Ltd. OzSearch is the second largest search directory in Australia with over 24,000 website listings. Dai-Ichi executive director Rahadian Mahmud siad:" With this investment, we have secured an additional marketplace for our products and together with our investment in Xudio.com and our strategic alliances with MyWeb Inc and Catcha.com, we have built a strong market base for our products in the Asian region, Australia and others."

The Star 24/3/00 - Daiichi Industries Bhd which plans to change its name to EG.Com Bhd has proposed a private placement of up to 10% of the issued and paid-up share capital of the company. The proceeds form the porposed private placement of shares would be mainly used for the redemption of the RM20mil guaranteed redeemable bond 1995/2000 expiring on Dec 14, 2000. The company proposed a private placemet of up to a maximum of 2,828,351 new shares or 10% of its issued and paid-up capital. Daiichi has also proposed to amend its memorandum and articles of association to include the new business of e-commerce and Internet-related services which it planned to diversify into the future. It proposed an increase in the authorised share capital to RM50mil to be made out of 50 million shares in the company to accomodate the proposed private placement. Daiichi will place out all the placement shares with appropriate parties to be identified at an issued price which will be determined prior to the placement of shares based on the guidelines of the Securities Commission (SC).

Sin Chew 16/3/00 - Daiichi, by having stake in Singapore Xudio.com, would like to achieve synergy with its audio equipment experience to create a niche in internet music entertainment market.

Sin Chew 14/3/00 - Daiichi announced its contract with Malaysia Government to set up government-to-consumer portals facilitating various payments from consumers to government departments; (stage one) electricity bill (TNB), telephone bill (Telekom), payment for driving licence renewals, (stage two) payments to Immigration Department, water bill, and etc. Firm set up to implement this portal is myEGdot.com Sdn Bhd in which Daiichi has 30% stake, Sapura 15%, Technochanne 35% and Asia Internet 20%. The combine stake of Daiichi and Asia Internet is 50% and Asia Internet owns 50.04% of Daiichi. Back in 1997 there had been Letter of Intent for the plan of setting up this portal. Contract period 20 years, renewal to additional 5 years.

Daiichi also plans to implement online sales of its manufactured audio equipment.

Daiichi has 30% stake in Singapore's xudio.com whereas Catcha (see AKNTech) has 67% stake.

Asia Internet, which holds 50.04% stakes in Daiichi, also holds the controlling stakes in Nasdaq listed MyWEB, the only company in the world that has certain transactions done through Television Internet Online.

The Sun 13/3/00 - Dai-ichi bought stakes in music-related online net firm.

The Edge 12/3/00 - Regarding Dai-ichi's possibly being accorded government project to set up government-to-consumer portals, analyst said Dai-ichi has not announced receipt of letter of intent from the government. The analyst argued that setting such portals could mean high costs and only time can tell whether the Dai-ichi's venture could be profitable or not.

(word of mouth) Feb 00 - *

The Star 3/3/00 - Dai-ichi Industries Bhd has forged a strategic alliance with two of Asia's leading Internet portals, a collaboration that promises brigth prospects for business growth in the region. The company was optimistic that the affiliation with MyWeb Inc.com and Catcha.com would significantly contribute to sales growth of its locally manufactured products in the rest of Asia. DIB executive director Rahadian Mahmud said in a statement that the company hoped to reduce its dependence on the local market through the alliance.

(word of mouth) Feb 00- Dai-ichi still has not confirmed its being taken over by Asia Internet (Japan)

The Star Feb 00 - Asia Internet/Daiichi has secured contract to build webs for Malaysia's public sector.

Feb 00 - It was rumoured that Asia Internet (Japan) has taken over the majority stake in Dai-ichi in Malaysia, originally an audio making company.

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