(Hong Kong, 8 March 2001) The Shui On Group today announced the launch of pioneering business-to-business trading portal, AsiaMaterials.com, which offers one-stop services tailored for players in the building materials industry.

AsiaMaterials.com has a unique "click and mortar" business model that offers the combined strengths of an electronic trading platform, a global network of AsiaMaterials Business Centres (ABCs) and a range of horizontal services, providing end-to-end total solutions to customers.

With headquarters located in Hong Kong, AsiaMaterials.com initially has opened six ABCs in Beijing, Shanghai, Tianjin, Guangzhou, Hangzhou and Wuhan. More ABCs will be opened in the United States, Europe and the Asia Pacific region by the end of this year. AsiaMaterials.com has already formed alliances with more than 10 strategic partners. These partners offer a comprehensive range of horizontal services including quality inspection, logistics, supply chain management, insurance and payment.

Officiating at the launch ceremony were Mr Chau Tak-hay, Secretary for Commerce and Industry, and Mrs Carrie Yau, Secretary for Information Technology and Broadcasting.

"With the globalisation of the world economy, the imminent accession of China into the WTO, and the advent of the Internet age, corporations in the 21st century are facing a new era of challenges and opportunities. AsiaMaterials.com endeavours to grasp this unique opportunity and tap the building materials market worldwide," said Mr Vincent H.S. Lo, Chairman of AsiaMaterials.com.

Following its initial contacts with potential suppliers and buyers, AsiaMaterials.com has already recorded more than 400 companies registered as its members.

According to Forrester Research, the global construction market is estimated to be worth US$3.2 trillion, yet less than one percent of trade is conducted online. The growth potential of online trading is huge.

"China has great potential to capture a larger share of the world trade market, especially after its accession to the WTO. With Shui On's 30 years of experience and expertise in the construction and construction materials industries, and extensive people network in the Chinese Mainland, AsiaMaterials.com is a valuable gateway to domestic and overseas manufacturers alike, allowing them an access to global trading market and an increase in their market share," said Mr Wilfred Wong, President of AsiaMaterials.com.

In 1999, China exported construction-related materials worth over US$11 billion, of which exports to the US alone accounted for US$4 billion. Already one of the major players in the global construction and home improvement materials markets, China is undergoing a multibillion dollar housing boom that is expected to increase at rates approaching 10 percent a year for the next five years.

"Combining the industry's people, markets and technology, AsiaMaterials.com turns the huge and fragmented building materials markets into a network which can be accessed through a seamless e-commerce model. Through AsiaMaterials.com's online Transaction Platform, people-based Collaboration Platform, and cutting-edge Technology Platform, we can offer customers both online and offline services, enabling them to tap business opportunities worldwide," added Mr Wong.

To complement its professional sales and technical support teams, AsiaMaterials.com has teamed up with strategic global service providers to ensure customers receive complete end-to-end services. The ABCs allow customers to meet the teams face-to-face, and become a hub for buyers, trading partners and suppliers. Also the centres will generate information on vital aspects of market intelligence for trading, including domestic policies, regulations, supply and demand, and price trends.

By trading through AsiaMaterials.com, customers will enjoy real benefits, including: access to a global 24/7 sales network; the most comprehensive data bank of building materials and latest market information; outstanding customer service; technical support based on in-depth domain expertise; and increased operational efficiency and cost reduction.

AsiaMaterials.com, established in year 2000, is a wholly owned subsidiary of Shui On Construction and Materials Limited (SOCAM). SOCAM, a member of the Shui On Group founded by Mr Vincent H.S. Lo in 1971, has been listed on the Stock Exchange of Hong Kong since 1997. The Shui On Group has close to 30 years’ experience in the construction and construction materials field.