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PETALING JAYA, 19 November 2001:

While debates go on about how fast-changing trends in the New Economy will impact businesses, one fact remains -- use of the Internet and information and communications technology (ICT) is critical for businesses’ survival.

To help shape a new direction for Malaysian businesses, PIKOM, the Association of the Computer and Multimedia Industry of Malaysia, will hold a seminar titled, “Survival In The New Economy” on November 29 to address critical questions on businesses’ survival in the New Economy.

“Yes, the dot-com shakeout has shown us the stark difference between strong Internet players and those out to make a quick buck, but the New Economy is not confined to pure Internet business models. It also applies to brick-and-mortar businesses which are finding their way to adapt to and make use of advances made in ICT,” said Andrew Hong, executive director of PIKOM.

“ICT will become the main driver of the New Economy and it will be integrated in all businesses, big or small. Despite an uncertain economic climate, there remains a huge demand for e-business services, especially in software products and customized services,” he added.

Hong went on to say that the seminar will touch on various aspects of the New Economy and will include survival tips, guide and advice from experts who have hands-on experience running Internet-based business models, to assisting companies with e-business adoption.

“There are a number of Internet players who have weathered the storm and are successful today. One of which is Malaysia’s own ShipNTrack which started as an Internet player and has continued to fine tune their business model to suit the current economic climate,” added Hong.

ShipNTrack’s chief executive, David Wong, is one of the speakers at the seminar and he is expected to share his company’s experience, along with other experts who include Teh Kim Seng, director of Malaysian Venture Capital Management; Calvin Goh, finance director of and V.Sivapalan, chief executive of, a New Economy venture capital, mergers and acquisitions consultant.

Causes of business failures will also get an airing as these experts address the issue, together with remedies, sources of funding for entrepreneurs and ways to create companies that can attract investment from venture capitalists in 2002.

The seminar is targeted at chief executives, chief financial officers, entrepreneurs, venture capitalists and small and medium enterprises.

The seminar “Survival In The New Economy” will be held at Petaling Jaya Hilton on Thursday, November 29 from 9.00am to 5.00pm. Registration fee for PIKOM members is RM80.00, and for non-members RM250.00.

For more information on the seminar, please contact I-Mei Low ( or Janet Lee ( at 03-7955 2922 or fax: 03-7955 2933


PIKOM, the Association of the Computer and Multimedia Industry of Malaysia is the trade association representing the ICT industry in Malaysia. PIKOM’s 390 member companies provide a whole spectrum of ICT products and services and control approximately 400 companies, commanding about 80% of the total ICT trade in Malaysia.