Asia2B.com launches trading portal

Asia2B.com, an e-marketplace procurement platform, signs on six new partners as part of its ambitious plans. But the company remains tight-lipped on strategy.

Asia2B.com marked its official launch on Thursday by unveiling ambitious plans to move approximately HK$8.72 billion $1.1 billion through its online trading portal by 2004. That's equivalent to 1% of Hong Kong's expected year 2000 gross domestic product. But the company declined to explain how it intends to reach that target - or indeed how it aims to break even within the next two years.

The company, which has start-up capital of $40 million, announced six new local and Chinese partnerships at the launch, including telecommunication services provider New TT, and M2B.com, a pharmaceutical portal. M2B.com is the first e-commerce pilot portal to be endorsed by the Chinese central...

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