Asian job portals find niche on Net

By Julian Matthews
Published in ZDNet, Dec 29 2000

Dotcom demises and corporate belt-tightening has refocused interest on one bright spot on the cloudy Internet horizon — online recruitment services. More job-seekers are posting resumes on the Web, while more employers are turning online to save on hiring costs.

KUALA LUMPUR – Staff cuts and the looming specter of an economic slowdown in 2001 are likely to see increased traffic in job portals. In the last year, most online recruitment services claim usage has been on the rise, and are busy regionalizing their operations in anticipation of growth.
Read more to license search technology, launches Chinese site

By Julian Matthews

KUALA LUMPUR–Regional portal player will license its search and retrieval technology worldwide as a new revenue source.

“We have been approached by several parties to use our unique technology and have decided to commercialize and develop it into a product,” said Patrick Grove, Group chief executive.

Grove told CNET Asia the company will spend at least 2 million ringgit (about US$526,000) over the next five years to further research and develop its search engine.
Read more

Portalizing Asia

By Julian Matthews

A quiet revolution is brewing on the Internet portal-playing landscape in Asia.

Even as Yahoo!, Microsoft’s MSN and Lycos move in to colonize the masses, Asian players are taking counter-offensive measures.

The payoffs are obvious. Portals are proven big traffic generators, and Asia is the one of the fastest-growing Internet markets. Couple this with the potential to direct that traffic onto gold-lined e-commerce pathways and the war has just begun.

The battle cry seems to be: “Whatever Yahoo! can do, we can do better.” In Malaysia, a new player has entered the fray while others have revamped and expanded their portal offerings.
Read more plans Nasdaq listing in 12 months

By Julian Matthews

KUALA LUMPUR–Asian portal player plans to list on Nasdaq in 12 months.

Chief executive Patrick Grove said the company may also seek a dual listing in Malaysia or Singapore within the same timeframe.

He was speaking at the launch of Malaysian version of its portal. The site is currently in English but Malay and Chinese language versions are in the works.

Read more Closing First Round VC Funding For MP3 Website

By Julian Matthews

Asian portal player is set to close its first round of venture capital for its popular MP3 music site “” soon.

Patrick Grove, chief executive officer, of hopes to get between US$500,000 and US$1 million for the popular Website which will be spun off and be developed independently. was recently listed among the Top 25 search engines for MP3 in the world by industry watcher MP3Now.

“We are the positioning the site as a hub for distributing music for Asian acts,” Grove told Newsbytes. “It will be like an Asian- equivalent of Nasdaq-listed We will focus on unsigned acts in the region to put out their original music on the site and we are also talking to major established labels and distribution houses for partnerships.”

Grove expects a paradigm shift in the next three to five years when established ways of distributing music today will be overturned and the Internet will be play a dominant role.

“When this shift happens, the leading distributors of music on the Internet stand to gain and we plan to be one of the key players,” he said.

Earlier, Grove said was aiming for an IPO on the Nasdaq market by the year 2000 but a listing on a local bourse such as the Kuala Lumpur Stock Exchange or Singapore Stock Exchange was more likely.

He said Catcha was also planning to expand to country-specific portals for Australia, Philippines and Thailand in addition to its present portals in Malaysia, Singapore and Indonesia.

Chief operating officer Nic Lim said the company was also looking into having Chinese and Malay language versions of the portal soon.

Lim said the company had also applied to receive Multimedia Super Corridor status which qualifies them for tax breaks, world-class communications infrastructure and freedom to import foreign knowledge workers within the high-tech zone.

“We are enjoying tremendous exponential advertising growth rates of between 25- to 50 percent per month and have a hit count of 10 million per month,” he said.

Lim conceded that e-commerce and banner ad market from local companies was still weak but he expects “the tide to change.”

Set up in July by four entrepreneurs each under 25-years-old from Malaysia, Singapore and Japan, the company recently received venture capital amounting to 12.1 million ringgit (US$3.2 million) and is currently capitalized at 76.5 million ringgit ($20.1 million), making it one of the largest Internet companies in the region.

Funding came from a group of both local and overseas investors including Arboc Investments, an investment holding company for the Shaw family, Australian company Imperial Technologies, Geneva-based Alternative Investment Management Group, Hong Kong venture cap company Axiom Funds Management and private investors in Malaysia, Singapore and Hong Kong. is targeting a third round of investment from institutional investors and merchant bankers.

Published in Newsbytes, Oct 27, 1999.