Catcha consolidates R&D in Malaysia

SINGAPORE - Catcha.com, a Southeast Asia online media services company today announced its agenda to centralise the Company's technology and R&D operations in Malaysia.

The move will correspond with the company's move of its Malaysian division to Malaysia's Multimedia Super Corridor (MSC).

The move reflects the Company's continued commitment to the MSC and is a fulfillment of a proposal presented earlier to the MSC Steering Committee.

The Company will continue to maintain dual corporate headquarters in Singapore and Malaysia, while focusing its technology R&D in Malaysia. Technology R&D in Singapore and Indonesia is expected to consolidate by year's end.

"By concentrating our Technology R&D operations in Malaysia, we are able to both consolidate our technology and production resources and capitalize on lower cost structures and development incentives offered under the MSC program," said Mr. Patrick Grove, CEO of Catcha.com. "This allows us to establish a central hub for our technology talent and maintain our competitive advantage as we move aggressively into e-commerce activities leveraging off our success from the F1."

Catcha.com is a Southeast Asian network of localized portals formed following the merger between leading search engines in Singapore, Malaysia and Indonesia.

The company has recently made foray into on-line ticketing sales for Petronas Malaysia Grand Prix. Claiming success, it is now following up with R&D development efforts on a number of e-commerce initiatives and solutions.

Catcha.com continues to grow with revenues increasing by 83% between the 2nd and 3rd quarters of this year. Membership growth has exceeded the 1 million mark and the Company will continue to diversify its revenue base with the launch of a comprehensive suite of e-commerce services and solutions targeted for Q1 2001.