STAR subsidiary and Exchange Equity Interest

27th Mar 2001

STAR Group Limited (“STAR”), and Holdings Ltd (””), an established online travel services provider based in Singapore, today announced the completion of an investment and equity exchange agreement.
Under the terms of the agreement, Limited (””), a subsidiary of STAR has issued 12 percent of its equity interest to in exchange for the issue of 12 percent of`s equity interest to STAR.
The alliance will bring together the strength of the companies in the development of multi-media travel content. operates an interactive multi-media online travel guide,, to which provides technical infrastructure support.
Commenting on the agreement, STAR Chairman and Chief Executive Officer Mr James Murdoch said, “We identified as a well-established online travel services provider in the Asia Pacific region, and the best partner for us as we now directly partake in the investment and development of multi-media travel content in the Asia Pacific region.”
Mr Boh Tuang Poh, Chief Executive Officer of, said, “We are indeed honoured to be a strategic partner to STAR. This alliance will open new channels of growth for us to reach out to more consumers, leveraging on the online networks which STAR has established.”


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