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Tradelink announces agreements with the HKSAR
Government
on the Digital Trade & Transportation Network (DTTN)
(1 September 2005, Hong Kong) Mr. Justin Yue, Chief Executive
Officer of Tradelink Electronic Commerce Limited announced yesterday
that the Digital Trade and Transportation Network Limited (DTTNCo)
has signed with the HKSAR Government the Operating Agreement for
the set-up and operation of the Digital Trade and Transportation
Network (DTTN).
The concept of DTTN was first mooted in the Accenture Report
commissioned by the HKSAR Government in 2002, and endorsed by
the Hong Kong Logistics Development Council (LOGSCOUNCIL) in 2003.
It called for the creation of a neutral and open e-platform to
facilitate the flow of information and documents electronically
among companies in different sectors of business. Following an
open invitation and selection process, Tradelink was selected
as the preferred candidate to develop and operate the DTTN services.
“Our discussions with Government culminated into the signing
of the Operating Agreement between the Government and the DTTNCo
on 31 August. “ explained Mr. Yue. It specifies the requirements
to be met in the development and provision of the DTTN services
by the DTTNCo, and has a term of 15 years, renewable thereafter
for 10 years at a time. “What is more important,”
said Mr. Yue “is that it also contains provisions to enshrine
the guiding principle set out in the Accenture Report and endorsed
by the LOGSCOUNCIL which called for, amongst other things, neutrality
and openness in the operation of DTTN.”
Mr. Yue said that the SAR Government will play an active role
in the development of DTTN. “A Shares Acquisition Agreement
and a Shareholders’ Agreement have been signed at the same
time as the Operating Agreement,” Mr. Yue said. These contain
arrangements, that subject to funding approval from the Legislative
Council, Government will take a minimum 21% equity stake in DTTNCo,
whilst Tradelink itself will hold a minimum of 51%. According
to Mr. Yue, such arrangements are a clear indication of Government’s
support for the DTTN project on the one hand, and a guarantee
to potential users of the DTTN services that DTTN will be operated
as a neutral, open and trusted platform on the other hand.
“The development of the DTTN platform is well on its way
to becoming completed. We will soon be putting the platform to
vigorous and thorough testing. At the same time, arrangements
are well in hand to invite a selected group of users to start
using the DTTN services by the end of 2005.” Mr. Yue said.
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For press enquiries, please contact Tradelink (Corporate Communications)
on 2599 1686.
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