World.Net Wins Multimedia Super Corridor Status

Leading Australian e-commerce solutions provider, World.Net, has joined a select group of innovative companies by achieving the prestigious Malaysian accreditation `Multimedia Super Corridor (MSC)-Status Company`.
As the first Australian travel software technology company to comply with the rigorous MSC criteria, World.Net has significantly progressed its strategy to be the dominant supplier of travel solutions to the Asia Pacific region.
World.Net`s CEO, Ernst van Oeveren, said the accreditation enhances the company`s credibility within the Asian marketplace while providing access to a range of generous incentives from the Malaysian Government.
“The Multimedia Super Corridor is the single most important ICT precinct within the region. Membership of this prestigious club not only greatly improves our tax status but also provides significant opportunities to network and partner with other leading ICT companies.
“Our location within the MSC gives us access to cost competitive development and production hub and a pool of well trained, multilingual staff, who will not only assist in our launch into East Asia, but will enable us to establish 24 hour global Customer Service Help Desk facility for our customers,” he said.
Located at the hub of Asia`s fastest growing markets, the Multimedia Super Corridor project is a 15 by 50 kilometre area extending south from Malaysia` s capital Kuala Lumpur. This exclusive precinct has already attracted many of the world`s leading ICT companies including Intel, Oracle and Sun Microsystems.
With the support of the Malaysian Government, the MSC is unlocking the full potential of multimedia technology by integrating ground breaking cyber laws and outstanding information infrastructure in an attractive physical environment.
As an MSC-Status Company, World.Net now enjoys several financial and non-financial incentives under the Malaysian Government`s Bill of Guarantees, including:
á No income tax or an investment tax allowance for up to 10 years, and no duties on the import of multimedia equipment;
á Freedom from local ownership restrictions;
á Unrestricted employment of local and foreign knowledge workers;
á The resources of a high powered implementation agency providing a one-stop resource shop and global marketing;
á Access to state of the art physical and information infrastructure; and
á Freedom to source capital globally for MSC infrastructure and the right to borrow funds globally.

These incentives give World.Net a cost effective and strategic opportunity to exploit the significant potential created by the unique web of local and international companies that is the MSC. World.Net`s MSC status further enhances its already strong links with the Asian market, including the delivery of its proven Internet-based reservations system, Travel.World.Net, to, the online arm of Malaysian travel services group, Reliance Pacific Bhd.