Vulture Capitalists Soar above Australian Dotcom Prey, 100% increase in enquiries
(4th December, 2000)

Speaking at the ROI for eBusiness conference in Sydney this week, APT Strategies outlined details from their recently released report titled Gaining Market Share in Asia Pacific which warned of "Vulture Capitalists" peering over ASX listed Internet companies that are trapped in cash burn positions. APT Strategies, a leading Sydney based online intelligence company, has experienced a 100 per cent increase in research and due diligence being conducted on behalf of International Internet and IT businesses on Australian companies.

With over 50 Internet related companies listed on the Australian Stock Exchange and many suffering severely depressed stock prices with limited opportunities to raise further capital, APT Strategies noted that the number of inquiries from International companies to conduct due diligence and engage in a cost effective strategy in Asia Pacific.

According to Marc Phillips, CEO, "Of the elements that International companies prioritise when entering the Australian marketplace, local partners are favoured when they have a combination of 'access to a network of decision makers and first mover advantage."

This was evidenced by the recent Hong Kong financial and technology services company Techpacific.com which announced it will invest $11 million in Spike CyberWorks in return for a controlling stake in the services business. Despite the Spike Wireless share price falling in recent months, they are recognised as holding first mover advantage with many blue chip clients.

"The VP's are flocking to Australia to review strategic assets. They see great opportunity in the reactive financiers who have not switched from being venture to vulture capitalists" said Mr Phillips, who has acted for Nasdaq and London Stock Exchange listed companies in assisting their entry strategies into the Asia Pacific region.