Skynet Telematics.Com and Forefront International-HK LTD -- A Joint Venture and Exclusive Head Franchise Agreement for China, Hong Kong, Taiwan and Thailand.Business Editors LONDON--(BUSINESS WIRE)--June 22, 2000 Skynet Telematics.Com Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :SKYI) is pleased to announce the signing of a Joint Venture agreement and exclusive head franchise agreement for Skynet's, "Skamp" range of automotive and marine telematic products, with Forefront International (HK) LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability , for the countries of China, 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. , Taiwan and Thailand. This agreement provides that Forefront International (HK) LTD are forming a Joint Venture company to be owned 40% by SKYI and 60% by Forefront International (HK) LTD, through which the Joint Venture will have the exclusive rights to market, monitor and promote the "Skamp" range of automotive and marine telematics products and services in China, Hong Kong, Taiwan and Thailand. This agreement covers all current market sectors i.e. trucks, buses, automotive, rental car, fleet management, motorbike, marine, agricultural machinery Agricultural machinery is one of the most revolutionary and impactful applications of modern technology. The truly elemental human need for food has often driven the development of technology and machines. , generators, r.v's, anti-hijack, personal security and concierge markets. It is also agreed that the emerging telematic markets of medical telematics and tracking (MTT MTT 3-(4,5-Dimethylthiazol-2-Yl)-2,5-Diphenyltetrazolium Bromide MTT Machine Tool Technology MTT Microwave Theory and Techniques MTT Mobile Task Team MTT Multi-Table Tournament (poker) ); Children and VIP kidnap telematics tracking and geofencing (CVTTG), are also included in this agreement for China, Hong Kong, Taiwan and Thailand. Forefront International (HK) LTD, (Forefront) and Skynet Telematics.Com Inc. (Skynet) also announce that 10 Skamp units will be fitted to Chinese taxi fleets and Scania trucks next week in Beijing and Shanghai mainland China. The J.V. expects the taxi fleet trials in Beijing and Shanghai mainland China, to result in orders for in excess of 6,000 units. Although a large number of these vehicles are OLD models without electronic systems and immobilisers, the unique Skamp telematics device is designed to overcome these problems. These will be the FIRST Telematics connections in China and will initially be monitored by Skynet's London, England Monitoring unit, 24 hours a day 365 days a year until the J.V. sets up its monitoring station in China. Forefront estimate that sales to China, Hong Kong, Taiwan and Thailand will exceed 10,000 units by end August 2001. As the "FIRST" Telematics products into the immense underdeveloped un·der·de·vel·oped adj. Not adequately or normally developed; immature. Chinese markets the potential for growth is considered to be unparalleled. It is the intention of both J.V partners to take the Joint Venture Company public within 18 months. The unique Skamp Telematics service is expected to dramatically reduce hi-jack incidents, improve driver productivity and reassure re·as·sure tr.v. re·as·sured, re·as·sur·ing, re·as·sures 1. To restore confidence to. 2. To assure again. 3. To reinsure. the driver and employer that vehicle and driver are never alone. Skamp multilingual mul·ti·lin·gual adj. 1. Of, including, or expressed in several languages: a multilingual dictionary. 2. , monitoring, security, telematics, routing and concierge services, available 24 hours a day 365 days a year. This service is expected to result in substantial reductions in insurance premiums. Forefront International (HK) LTD (a private Company), is the sole distributor of Scania vehicles (Buses and Trucks) in China, Hong Kong, Taiwan and Thailand. Over 12,000 units of Scania trucks and buses have been sold into these areas by Forefront. Average annual sales exceed 1,000 units. As China has now become a member of the World Trade Organisation (WTO See World Trade Organization. ), Forefront believes demand for Scania vehicles will increase dramatically. Apart from the sale and distribution of heavy-duty vehicles, the Group also provides high quality after-sale services, including training courses for driving and maintenance given to the customers. The Group has also established service centres in various locations with abundant supply of genuine Scania parts, repair and maintenance tools and equipment. The Group has invested considerable resources in building the professional Scania image of services and high quality products. The Group's business covers not only the Scania products, but also includes insurance, computers, property investment and financing etc. in Taiwan, Hong Kong, and U.S. Skynet Telematics.Com.Inc. quoted OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB symbol "SKYI", involved in the development, marketing and distribution of integrated telematic, Internet, tracking, location and communication systems and the provision of specialised Adj. 1. specialised - developed or designed for a special activity or function; "a specialized tool" specialized specific - (sometimes followed by `to') applying to or characterized by or distinguishing something particular or special or unique; "rules with monitoring and concierge services to users of these products in the UK and throughout Europe. Skynet Telematics.com have joint venture agreements covering 42 countries in Europe, Middle East and Far East. Skynet is a world leader in the field of in-vehicle telematics offering fleet management solutions which combine three key technologies, GSM (Global System for Mobile Communications) A digital cellular phone technology based on TDMA that is the predominant system in Europe, but also used worldwide. Developed in the 1980s, GSM was first deployed in seven European countries in 1992. (Mobile telephone network), GPS (Global Positioning Satellites System which allows vehicle location within 4 metres), and Internet. Skynet's range offers an array of specialist features such as security, vehicle location and tracking, satellite navigation, telecommunications and of course information on route plans, traffic, weather, news, stocks etc. Skynet's fleet management facilities can be handled through any of its Pan-European 24 hour Monitoring Service The general surveillance of known air traffic movements by reference to a radar scope presentation or other means, for the purpose of passing advisory information concerning conflicting traffic or providing navigational assistance. Centres or alternatively as a standalone stand·a·lone adj. Self-contained and usually independently operating: a standalone computer terminal. solution from any PC (Personal Computer). NOTE TO EDITORS Tom Wilmot of Skynet Telematics.Com Inc. Says: "This Joint Venture increases to 42 the number of countries covered by Joint Venture agreements. It is our strategy to enter into J.V's with strong local partners in each country covered by the GSM Network by end June 2001. Thereby offering a World-wide turn-key monitoring solution to vehicle rental fleets, car manufacturers etc. I believe that this strong alliance in this exciting market place will lead to substantial earning potential for the JV and Skynet Telematics.Com Inc." Allen Yang yang (yang) [Chinese] in Chinese philosophy, the active, positive, masculine principle that is complementary to yin; see yin, under principle. of Forefront International (UK) LTD Says: "With the speedy urbanisation and living standards living standards npl → nivel msg de vida living standards living npl → niveau m de vie living standards living npl improvements of the Peoples Republic of China, the demand for heavy-duty vehicles and private automobiles is vast, and such demand will keep growing at an unbelievable rate. We intend fitting Skamp to every Scania truck and bus delivered into the Greater China economic zone, Taiwan, Hong Kong and Thailand. We also intend to offer Skamp as a retrofit ret·ro·fit v. ret·ro·fit·ted or ret·ro·fit, ret·ro·fit·ting, ret·ro·fits v.tr. 1. To provide (a jet, automobile, computer, or factory, for example) with parts, devices, or equipment not in to all Scania trucks and buses in these areas. We strongly believe that Telematics is the way forward for real-time Fleet Management, pro-active tracking, personal security telecommunications and anti-hijack." STOP PRESS!!! Skynet Telematics.Com Inc announced today that it has made an application to join the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. . Tom Wilmot says "our application is progressing well and Skynet are on target for listing an American Stock Exchange by way of an introduction to the market by end July 2000." For further details, please visit our web site: www.skamp.co.uk This press release contains forward looking statements regarding the Company's business strategy and future plans of operation. Forward looking statements involve known and unknown risks and uncertainties. These and other important factors, including those mentioned in various filings with the Securities and Exchange Commission made periodically by the Company (available to the public at www.sec.gov), may cause the actual results and performance to differ materially from the future results expressed in or implied by such forward looking statements. The forward looking statements contained in this press release speak only as of the date hereof and the Company disclaims any obligation to provide public updates, revisions or amendments to any forward looking statements made herein to reflect changes in the Company's expectations or future events. Skynet Telematics Inc - Public company quoted in USA OTC-BB, Symbol SKYI. For further information on Skynet Telematics, please visit our: Website:www.skamp.co.uk |
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