About Our Company1. PROFILE OF BIZWEBThe goal of Bizweb Communications Pte Ltd is to take advantage of the current technological trend towards electronic-commerce (E-commerce) and advertising on the World Wide Web -Internet. Bizweb Communications, with it's IT and Marketing Professionals are developing its E-commerce and Shopping Mall / Internet Design and Hosting with its' SSL Servers in USA. 2. HISTORY OF THE COMPANYThe Company was started by Florence Lim, an entrepreneur with 30 years of experience in the field of Yellow Pages advertising both locally and overseas. After 22 years working for others in the industry, she ventured out on her own in 1996 as a Web Hosting & Design company and carry on as an advertising company/agency. 3. THE BUSINESS
The Company operates an advertising agency which is an affiliate member of the Association of Accredited Advertising Agents of Singapore ("4As"). Presently, it has two offices in Singapore and Malaysia, the Malaysian office is operating under a Malaysian incorporated company known as Bizweb Internet & Directories (M) Sdn Bhd.
Product and ServicesThe Company's current business capabilities include :
4. MARKETING AND SALES
4.1.1The Marketplace E-commerce is the current buzzword. Cyberspace is where the growth is occurring in terms of new sales. All over the world, billions of dollars a year are spent by consumers shopping on the Internet forcing retailers that once sold only in stores or catalogues to take their products to cyberspace.A report by Forester Research Inc., a U.S. based market research firm estimated online sales by US consumers alone which totaled US$2.4 billion in 1998 to double this year and reach US$17 billion by 2001.
4.1.2E-commerce is catching up in Singapore. A recent survey by the National Computer Board (NCB) found that two out of three companies in Singapore are fully aware of E-commerce and did see the needs to engage in it.In a move to expand the E-commerce market here, the Ministry of Communications and Information Technology (MCIT) will spearhead a new programme to get more businesses to engage in E-commerce and to organise them into virtual communities. These communities, or portals can then tap into the business-to-business E-commerce market which one forecast estimates it to reach US$400 billion worldwide by 2003. MCIT hopes to set up 10 to 20 such portals over the next two years.
4.1.3The phenomenal growth of the Internet is likely to be a threat to the advertising industries, unless the industries also go on-line.A study conducted by Forester Research Inc. recently concluded that over the next five years, advertisers will continue to rely on traditional medium but on-line media will begin to take over an increasing share of the market. The Report estimated that on-line advertising spending will skyrocket ten times to US$33 billion worldwide by 2004 from US$3.3 billion now. The figure represents 8.1 percent of projected expenditure for traditional advertising and an annual growth rate of 5 per cent. The increase in spending is being driven by the surging number of Internet users worldwide. As the on-line audience continues to grow and E-commerce accelerates, more and more marketing dollars will be drawn into cyberspace.
4.1.4The Company intends to expand its presence beyond Singapore, Malaysia and Vietnam and also other regions. The Internet is a unique medium that offers advantages not available to more conventional mediums. The Company intends to utilise the full potential of this virtual medium as its new business focus to generate revenues in the areas of the Internet OverseasYellow Pages advertising and E-commerce.
4.1.5It is envisaged that substantial revenues would be derived from : Advertising on the Web.The hard copies overseas yellowpages medium, Singapore Business Guide, is a business portal for busines ventures: small, medium and large. E-commerce functions included in Internet directories which will allow advertisers and other companies listed in the directories to be electronic merchants. In this instance, the Company will act as the "transaction house" facilitating their on-line transactions and for this service, the Company will charge the merchant a small fee for each transaction. (iv) Registering domain names, web-site designing and web-site hosting on the Company's USA servers.
4.2 Target MarketsThe Company intends to expand its operations beyond Singapore, Malaysia, Vietnam and Hong Kong , Philippines, Thailand, Indonesia, Taiwan and Australia. The estimated market size for directory advertising in this region is about US$1.5 billion.With the advent of new technology on the Internet, advertisers are shifting away from the traditional printed mediums into the Web and other electronic mediums within the next few years. 5. COMPETITIONIn the field of Internet advertising, the Company has small minority competitions Its' relatively new entry into the directory advertising market in Malaysia & Singapore have gained a significant market shares. 6. MANAGEMENT
The Company's management team presently comprises of 6 key persons :
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