E-commerce firm posts 300% growth

Asia Online Philippines has registered a 300-percent growth in two years of operation, making it the first local e-commerce company to hit the $1-million revenue mark.

Yu Ming Chin, Asia Online country manager, said yesterday that they expect revenues to double this year as the firm sets aside $2 to $3 million for its major expansion.

Incidentally, the Philippine subsidiary is considered as the e-commerce capital of Hong Kong-based Asia Online Ltd. in the Asia Pacific region.

E-commerce projects, he said, accounts for about 55- to 65-percent share of the revenue even as majority of the projects being handled by the company involves web development.

Yu Ming said that 80 percent of their projects are from local clients and only 20 percent from overseas.

The overseas projects are joint undertakings with Asia Online affiliates in US, Hong Kong, Singapore and New Zealand, he added.

"Definitely more clients want to get into e-commerce. The biggest demand is in market exchange business-to-business applications such as online procurement, Internet trade exchange and bills presentment and settlement," he said.

Moreover, there are the dot-com companies whose requirements practically encompass the full range of services in Asia Online's portfolio, he added.

He said that they are not only looking at gaining more electronic commerce and digital design projects, but also acquiring existing companies which may complement Asia Online's business.

Although Yu Ming refused to reveal details of negotiations, he said that in the whole region, their holding firm is conducting talks with two to three dozen groups.

Yu Ming attributed the huge revenue boost to the company's ability to produce quality and cost efficient Internet solutions and its obsessive dedication and single-minded focus on serving clients.

"We create opportunities to expand our business by educating and convincing traditional companies that their Internet transformation is essential to their organization's growth and survival. And our efforts have paid off in dramatic growth that we have posted thus far," he explained.

According to him, Asia Online is uniquely positioned as the only company that can provide full solution professional Internet service such as digital design, web hosting, technology consulting and e-commerce applications.

Likewise, Yu Ming said that they have established Asia Online Academy in recognition of the importance of e-commerce in the new economy and the growing need for specialized information technology (IT) skills.

The academy, he said, is envisioned to be the leading training center for e-commerce and digital design in the region, capitalizing on the vast pool of talented Filipinos and providing professional training for corporate accounts and individual students.