Financing from Hong Kong

Tengtu International, a firm that provides information technology services to schools in mainland China, received US$1.5 million financing from Hong Kong investment firm Yugang International. Datacraft Asia acquired 60 percent of Hong Kong systems integrator I Square Solutions. Asian Internet portal company chinadotcom Corp. [NASDAQ:CHINA] announced a further offering on the Nasdaq market to fund additional investments. i-Cable Communications partnered with broadband network company Terayon Communication Systems to provide cable modem-based Internet service in competition with Cable & Wireless HKT.