Oriented Media to venture into China's internet market

PETALING JAYA: Oriented Media Group Bhd plans to venture into the Chinese Internet Market, in a move to reduce dependency on the challenging operation in Malaysia, Singapore and Hong Kong.
The group plans to provide consultancy services for the e-commerce trading platform that involves research and development as well as operating services of online sportswear businesses in the near future.
Currently, Oriented Media is in development of online games, educational web applications, mobile applications and offers digital media consulting services.
"Looking at the fast-paced development of Internet industry and technology, the management team and board have been exploring potential business growth and external business expansion opportunities within the data industry in China for the past the past few years and this has led to the entry of Zu Ghuhe in May 2014 as a new investor cum executive director. He is tasked to spearhead the growth of this sector for the company in China over the next few years. The company would continue to attract new strategic investors and shareholders to join the board, with the view to continue expanding the company," the group said.
It said a comprehensive analysis by its board on China's Internet industry, has bolstered its optimism on the rapid growth of China's large Internet-based companies, such as Alibaba (TMAIL, TAOBAO), JD, and VIPSHOP.
Fujian Accsoft Technology Development Co., Ltd (FATD), a wholly-owned subsidiary of Oriented Media Holdings Limited incorporated in Hong Kong has received approval from the Chinese government for its set up in China.
As at to date, FATD has already signed the e-commerce hosting services and operations managing services agreement with local sports apparel enterprises like KANGTA, RESOON, QIANDA and LIANMAO.