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The Star 23/3/00 - Renong had teamed up with YTL, Hotel Equatoria, Federal Hotels and Seri Pacific to developm an e-hotel internet portal for the local hospitality and tourism industry. The portal is being set up as a business-to-business web facility for use by hotels and other businesses in the purchase/procurement of goods and services, among other transactions. Renong and YTL will each take a 20% stake in the joint-venture company with the other three parties 10% each. New partneers would be invited to take up the balance 30% interest. Renong would participate in the e-hotel portal venture via its incubator company in which it would hold a 40% stake and UEM 20%. The e-hotel had the potential to be further developed for business-to-consumer transactions, said Yeoh. It is expected that savings in operational costs of 20% to 30% can be made by hotels that adopt e-commerce. The joint-venture company would own the portal and charge a small fee of 1% to 2% for each transaction. Advertising would form another core source of revenue for the company.

The Star 21/3/00 - Renong Bhd and a unit of Singapore Technologies Telemedia Ptd Ltd (STT) plan to invest a minimum of RM500mil in the development of a regional e-commerce hub in Johor. The hub will cater for companies trading on the Internet which wish to venture into Asian markets. For these companies and businesses which plan to take advantage of the Asean free trade area (Afta) to be implemented in 2003, the hub will serve as a one-stop centre for online shopping, physical shopping, distribution, warehousing and exhibition space. The two parties will jointly develop an initial 40.5ha site in Bandar Nusajaya into an e-commerce international park with free trade zone status. The site is located beside the customs complex leading to the second link between Johor and Singapore. Renong has ontained approval to convert a further 971.3ha in the area later for such purposes. "We are combining resources to create an e-commerce park to serve Malaysia, Singapore and the region as well as business-to-business and business-to-consumer activities in the two countries. The joint-venture will initially target nternet-linked consumers and retailers in Malaysia and Singapore but its long-term aspiration is to attract large international participation. Shareholding in the joint venture would probabl be split 30:30 between Renong and STT Communications, with Time dotCom Bhd, Teras Teknologi Sdn Bhd and Prolink Development Sdn Bhd also having stakes. The Renong stake in the joint-venture company would be held through its yet-unnamed RM400mil Internet incubator comapny announce last week. Renong associate United Engineers (M) Bhd (UEM) would probably ndertake the construction of the park as Perdas said it was the group's intention to farm out such work to companies within the Renong stable. Through Time dotCom, Renong will provide the fibre-optic infrastructure upto the Malaysia-Singapore border at the second crossing while STT Communications will connect Time dotCom's fibre-optic network to its designated premises in Singapore. Time dotCom and STT Communications will jointly undertake the design, supply and installation of appropriate telecommunication services, including Internet access for connection of web-hosting services.

The Star 20/3/00 - UEM is planning listing of PLUS, which IPO could be the largest ever in Malaysia. The proceeds could be used to ease the debt burden of both UEM and Renong.

The Star 16/3/00 - Renong owns 40%, UEM 20%, Waterfront Capital 5%, Tan Sri Halim Saad 5% and 30% other partners stakes on internet related company called Newco which internet activities can be split into three category : (1) acquired market ready application units such as e-health4all (30%) see Pharmaniaga, krishost (30%), e-construction (30%) and e-tuisyen (30%) (2) Development of ideas and concept (external or employees), apanak.com, e-travel, e-route planner, onebill/central online payment system, e-cars, e-jobs and e-tickets (3) taking the role of venture capitalist (investment). See Time.

The Star 14/3/00 - Rebong Bhd proposes to sell its entire stake in Commerce Asser-Holding Bhd (CAHB). The sale will raise RM1.637 billion based on current market prices. Net gain estimated at RM1.1billion. Both Renong and UEM have appointed Merrill Lynch (Singapore) Pte Ltd as financial adviser for the estimated RM5.3billion asser disposal exercise by both the disposal o Renong's entire CAHB stakes and UEM's floatation of 25% stake in PLUS (estimated RM3.75billion) and the proceeds of which will go towards repaying a large portion of the group's seven-year zero coupon RM8.37billion PLUS bonds issued last year.

Feb 00 - e-commerce initiatives