Three-Entity gets RM12.36m equity investment

KUALA LUMPUR, 11 May 2000 - The capital infusion from Dijaya will support the launch of 3ntity's first generation e-procurement application, ProcureFlow, a web-based business-to-business (B2B) e-commerce software to help a company automate its enterprise procurement chain.

The e-procurement software is a business tool that incorporates multi-supplier product catalogues. Companies can customise it with cost-effective features such as electronic processing of approvals and purchasing transactions and end-to-end reporting functions.

The software also allows companies to electronically order all their maintenance, repair and operation goods and services to support their day-to-day business operations.

ProcureFlow is currently deployed by Ericsson Group of Malaysia and EPA Management Sdn Bhd.

The equity investment in 3ntity is Dijaya's first direct investment in the B2B e-commerce space. Dijaya's controlling shareholder and director, Tan Sri Vincent Tan, described the investment as the right move for a company like Dijaya which is in the business of accelerating growth and creating value.

Dijaya has recently announced its proposed investment in various Internet and IT companies, including a 100% equity interest in Malaysia Online (MOL). The new MOL.com is Dijaya's early vehicle to become a major Internet incubator.