DreamMotor.com and autofreeways.com create regional automotive portal

SINGAPORE, 28 June 2000 – Today, DreamMotor.com announced an agreement with autofreeways.com of Hong Kong to create MotorAlliance.com.

This strategic alliance hopes to establish MotorAlliance.com as a strong regional player in the autoworld with a presence in Singapore, China, Hong Kong, Malaysia, and Australia.

“By joining forces, MotorAlliance.com plans to strategise and build upon a strong network of synergy, that will result in cost savings and, most importantly, the ability to execute large-scale automobile Internet business across the whole Asia Pacific region,” said Cheah Kah Lip, CEO of DreamMotor.com.

With an equal distribution of equity between DreamMotor.com of Malaysia and AutoFreeways.com of Hong Kong, the strategic business direction for MotorAlliance.com will reflect the vision of its founders.

“Our vision is based on a business model that is focused on fostering the creation of a network of interlinked companies who are trailblazing leadership positions in different areas of the automobile Internet space,” Cheah said.

“MotorAlliance.com plans to build a network of companies by partnering with young auto-related Internet companies in Asia and International automobile Internet brands wanting to enter the Asian market,” added Cheah.

This regional automotive portal will focus on meeting the needs of both the customer and the dealer. This will encompass facilitating the buying and selling of vehicles, procuring loans, looking for dealers and finding accessories.

“The idea is to enable anyone from anywhere to find a vehicle in the most convenient manner,” added Cheah.

MotorAlliance.com aims to be the key enabler for developing automobile Internet businesses for the Asia Pacific region.

The portal will open the doors for local vehicle manufacturers, dealers and customers to transact with other markets in the region. This will be especially significant once the Asean Free Trade Agreement comes into place in 2003.

Future plans include expansion into other Asia Pacific countries, including other ASEAN countries, New Zealand, South Korea and USA.

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