Asiaone 1-42

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BUSINESS The increase in transmission bandwidth through higher speed Internet connections and wider adoption of advanced content delivery technologies for the Internet and other multimedia enabling technologies will increase the functionality of advertising and will make the Internet an even more attractive advertising medium. Technological developments may result in a greater ability to provide information and analysis about the effectiveness of Internet advertising. The demographic profiles of users and the ability of advertisers to frequently modify and more closely tailor their messages should result in more targeted, higher impact advertising opportunities and greater integration of web-based advertising into the range of marketing channels available to advertisers. Internet transactions are expected to increase as online transaction processing technology improves, consumers become more accustomed to purchasing online and fulfilment systems become more reliable. Asia Internet Growth Opportunities In Asia where the economies are largely export dependent and investment has priority over consumption, businesses accelerate their e-business initiatives at an even faster rate. Consequently, e-business is taking off rapidly in Asia. Further the Internet is also becoming widely accepted as a platform for buyers and sellers of goods and services to interact and complete transactions. The recent economic downturn in the Asia-Pacific region has not significantly slowed the rate of Internet penetration in the Asia-Pacific markets, as consumers and corporate customers have discovered that Internet applications, such as e-mail and website advertising, represent lower cost substitutes for comparable non-Internet products and services. On the contrary, the recent volatility in the Asia-Pacific financial markets has increased the demand for reliable, around-the-clock news and information on local, regional and global events, which is often readily available through the Internet. We believe that the Asian region should register substantial growth in Internet usage for a number of reasons: (i) rising income level; (ii) pent-up demand for appropriately priced communications; (iii) greater local content focusing on cultural demands; (iv) growing number and value of other Internet applications; (v) falling personal computer prices; (vi) modernisation and expansion of the telecommunication infrastructures; (vii) supportive government policies; and (viii) proliferation of other access devices and technologies such as televisions, mobile phones and personal digital assistants. IDC, in its biannual update of Internet user forecasts and the revenue generated online for 13 Asia- Pacific countries in 1999, predicted that the compound annual growth rate of Internet users from Asia-Pacific (excluding Japan) for 1997-2003 would be 56%. IDC forecasts a boom in Asia-Pacific’s user population with an increase in the number of Internet users reaching approximately 95.2 million by end 2004, which is expected to generate online revenue of approximately US$87.5 billion. 53
BUSINESS The Singapore Information Technology Initiative In September 1998, the Singapore Government launched an E-Commerce Masterplan, with the aim of bringing e-commerce to mainstream businesses and to the public, as well as to attract international e-commerce activities to Singapore. The five main thrusts of the E-Commerce Masterplan are: (i) to develop an internationally linked e-commerce infrastructure; (ii) to jump-start Singapore as an e-commerce hub; (iii) to encourage businesses to use e-commerce strategically; (iv) to promote usage of e-commerce by the public and businesses; and (v) to harmonise cross-border e-commerce laws and policies. In addition, in June 1999, the Singapore Government further announced its intention to formulate the Infocomm 21 Masterplan, with the aim of developing Singapore into a dynamic and vibrant infocomm capital with a thriving and prosperous Internet economy by 2010. The IDA is the lead agency in charge of the National E-Commerce Strategies and Programmes. It has committed $25 million towards the “Dot-comming the People Sector” movement in the next three years. It will initiate and expand programmes to improve the affordability and accessibility of infocomm to the 30,000 low-income (with combined monthly incomes not exceeding $2,000) households in Singapore. It will also work with the industry and community groups to develop locally relevant content in other Asian languages to bridge the language barrier and generate interest in infocomm among all Singaporeans. Finally, IDA intends to bring the late adopters of technology on board the infocomm revolution as well as to motivate the early adopters to move on to embrace an e-lifestyle. A key initiative that IDA has put in place is the Singapore ONE (One Network for Everyone) network. Singapore ONE is a nation-wide broadband network which connects every home, office and school in Singapore and allows businesses to deliver interactive, multimedia applications and services to everyone in Singapore. STRATEGY Our objective is to be a dynamic, multifaceted news, information, lifestyle and e-commerce site. We want to reach English and Chinese speaking Internet users around the world with our focus on Asian products and services, and businesses and consumers looking for total solutions in Asia. We aim to be the premier Asian gateway/portal. Our strategy to achieve this objective includes the following:- (i) expand our user base by (a) building our brand names; (b) increasing advertising and promotion; and (c) enhancing transactional services; 54
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PROSPECTUS DATED 23 MAY 2000 SPH AS
Page 3 and 4: — Customers And Suppliers .......
Page 5 and 6: CORPORATE INFORMATION Board of Dire
Page 7 and 8: “FY” : Financial year ended or
Page 9 and 10: “Reserved Tranche” : The offer
Page 11 and 12: GLOSSARY OF TECHNICAL TERMS “onli
Page 13 and 14: The Application List will open at 6
Page 15 and 16: Allocation of New Shares under the
Page 17 and 18: RESULTS OF APPLICATION AND DISTRIBU
Page 19 and 20: SELLING RESTRICTIONS DETAILS OF OUR
Page 21 and 22: Our present business model is based
Page 23 and 24: THE INVITATION PROSPECTUS SUMMARY S
Page 25 and 26: An investment in our Shares involve
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Page 35 and 36: USE OF PROCEEDS The net proceeds fr
Page 37 and 38: SELECTED FINANCIAL DATA You should
Page 39 and 40: ANALYSIS OF FINANCIAL CONDITION AND
Page 45 and 46: GROUP STRUCTURE Our group structure
Page 47 and 48: As at Authorised Share Capital 29 F
Page 49 and 50: GENERAL INFORMATION ON OUR GROUP Ex
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Page 65 and 66: BUSINESS The categories of products
Page 67 and 68: Auctions BUSINESS The Internet’s
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Page 71 and 72: (ii) Button Ads BUSINESS Small adve
Page 73 and 74: BUSINESS While the Internet has sti
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Page 87 and 88: Equipment to support E-commerce Our
Page 89 and 90: BOARD OF DIRECTORS DIRECTORS, SENIO
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The Licence Agreement may be termin
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As at the date of this Prospectus,
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(viii) technical and research resou
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(ii) transactions in value equal to
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Entry into of forex, swap and optio
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• 312,500 preference shares of pa
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23 May 2000 The Shareholders SPH As
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FINANCIAL STATEMENTS Profit and Los
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FINANCIAL STATEMENTS Statement of C
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FINANCIAL STATEMENTS Statements of
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3. Significant accounting policies
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GENERAL AND STATUTORY INFORMATION I
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GENERAL AND STATUTORY INFORMATION 1
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Article 66 GENERAL AND STATUTORY IN
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Article 76 GENERAL AND STATUTORY IN
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Article 102 GENERAL AND STATUTORY I
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GENERAL AND STATUTORY INFORMATION (
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CONSENTS GENERAL AND STATUTORY INFO
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APPENDIX A 4. A person who has agre
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APPENDIX A ADDITIONAL TERMS AND CON
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APPENDIX A (3) tick the appropriate
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APPENDIX A An Applicant must ensure
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APPENDIX A 9. The Applicant must ha
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APPENDIX A (d) in respect of the Ne
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APPENDIX A (d) This application is
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APPENDIX B RULES OF THE ASIAONE PRE
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3. ELIGIBILITY OF PARTICIPANTS APPE
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7. RIGHTS TO EXERCISE OPTIONS APPEN
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7.6 In the event that:- APPENDIX B
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APPENDIX B 10. TAKE-OVER AND WINDIN
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APPENDIX B 10.6 If in connection wi
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APPENDIX B 18.2 Save for the taxes
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To: SPH AsiaOne Ltd, News Centre, 8
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APPENDIX B ASIAONE PRE-IPO SHARE OP
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APPENDIX C RULES OF THE ASIAONE (20
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APPENDIX C “Parent Group” The P
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APPENDIX C 4.2 The number of Shares
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APPENDIX C (c) any other event appr
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APPENDIX C 9.3 Shares which are all
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14. MODIFICATIONS TO THE SCHEME APP
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APPENDIX C (c) (i) the names of, an
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APPENDIX C Vesting Schedule Subject
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Please print in block letters Name
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Please print in block letters Name
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