Asian Star to Acquire 25% of Canadian Software Technology Company.Business Editors HONG KONG--(BUSINESS WIRE)--July 16, 2001 Asian Star Development, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ASTV ASTV Aeroassisted Space Transfer Vehicles ), through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Honpar International Holdings Limited, with its principal office in Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , and 3GEN Systems of Toronto, Canada, have entered into an agreement whereby Asian Star will acquire 25% of the total authorized and outstanding shares of 3GEN Systems. 3GEN Systems is a software technology company that develops and deploys technology-driven solutions for small and medium sized businesses. 3GEN has recently released the ShopMessenger(TM) software product. ShopMessenger is the only Customer Relationship Management (CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. ) tool designed for small and medium sized businesses that sell products and services directly to the consumer. ShopMessenger is currently patent-pending with the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Patent Office. 3GEN Systems is also in the process of becoming a systems integration and deployment partner for leading, bilingual (English and Chinese) Restaurant Management technologies. 3GEN will work closely with Asian Star in the marketing and deployment of Restaurant Management technology in the huge Asian marketplace. Stephen Chow, president of Asian Star, stated, "As a company with expanding restaurant operations in the Asian market, ASTV is excited about the huge, potential growth of Restaurant Management technology in the region. 3GEN Systems brings extensive software technology and deployment expertise that will allow us to not only improve our own food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. operations, but to also become a significant solution provider for the large number of other food and beverage businesses in Asia. China alone, with a population of over 1 billion people has a tremendous number of food and beverage operations that would benefit from this exciting technology. As we continue to increase our focus on introducing innovative, technology-driven, business solutions to the region, we will work closely with 3GEN Systems to provide the necessary guidance and expertise in the area." |
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