Keppel and BayCorp to jointly develop online credit and business information market to participate in e-commerce growth in Asia
Singapore, 12 April 2000 - Singapore's Keppel Telecommunications & Transportation Ltd, through its wholly owned subsidiary Keppel Communication Pte Ltd, together with New Zealand credit information provider BayCorp Holdings Ltd, have formed a 50-50 joint venture to service the online credit and business information market throughout Asia.
The joint venture company, BizInfo (Asia Pacific) aims to establish a regional presence by taking up equity stakes in local content providers in the Asia Pacific region.
Through these entities, BizInfo (Asia Pacific) would then provide online commercial credit reporting and financial risk management solutions by supplying in-depth analysis and data real-time on companies to customers who are multi-nationals, banks and financial insitutions.
Yesterday, BizInfo (Asia Pacific) took a large step forward by acquiring a majority interest in Singapore-based Infocredit Holdings Pte Ltd for S$8.8 million.
The acquisition of Infocredit (Singapore) gives BizInfo (Asia Pacific) an equity stake in SingBizInfo, which is Infocredit's 55% owned joint venture with reknowned business information provider Dun & Bradstreet (Singapore).
There are also plans to expand the range of services to include call centre and other related e-commerce services.
"Our strategy is two-pronged," said Mr Ng Eng Ho, managing director of Keppel T&T. "We will leverage on our existing telecoms and logistics assets to enable customers to grow a successful online presence with our robust infrastructure, technology and IT services."
"Second, we will faciliate their e-business by providing critical content that lend a cutting edge to their enterprise," he added.
Last month, Keppel T&T acquired Thailand-based ANEW, which has a joint venture with Dun & Bradstreet (Singapore) through Business Online Company.
Keppel T&T also recently acquired Netrust, a Singaporean digital certification company, which allows it to provide secure communication of business information and services over the Internet.
Mr Keith McLaughlin, BayCorp's managing director said, "In the case of BizInfo (Asia Pacific), we are bringing on the one hand, local operators such as Infocredit and Dun & Bradstreet (Singapore) who have the existing business infrastructure, market networks and strong branding to enhance our customers' competitive edge."
"On the other, BayCorp and Keppel provide the enablig technologies and operational expertise to enable these customers to rapidly diversify their online capabilities."
"Both BayCorp and Keppel recognize that currently the provision of essential credit and business information services is lacking throughout much of Asia," he added.
"However, following the Asian financial crisis in the alte 1990s, and the rapid advancement of electronic commerce, credit providers, central banks, and governments have recognized the fundamental need to create the infrastructure that can provide the relevant credit and business services, such as online credit bureaus," he said.
BayCorp is a New Zealand-based business and credit information services provider. The company delivers customized financial risk management solutions through technological innovation. BayCorp facilitates commerce by providing trusted information online.
About Keppel Communications
Keppel Communications develops and integrates convergence technologies such as web servicing, conferencing and call centres as well as provides project engineering services.
Keppel Communications Ltd is a wholly owned subsidiary of Keppel T&T, a telecommunications and logistics provider listed on the Singapore Exchange, which provides a B2B services.
Infocredit Holdings Pte Ltd commenced operation in 1995 with the establishment of Infocredit International Pte Ltd.
IIPL is a global provider of credit information to an extensive worldwide network. The IIPL client base includes multinational corporations, banks, financial institutions and large local enterprises.