Sino-i.com, if you visit their nice new website, now seems to be a leader in the internet world. Forgetting that just a few months ago they were a money-losing property player, Sino-i.com apparently thinks Richard Li`s webglomerate gig is the way to go and has started, purchased, and forged alliances with a number of internet sites. The categories include: financial information, entertainment (still under construction), a global Chinese newspaper (just registered the domain name), an online encyclopedia (just registered the domain name), and an online educational service provider (link doesn`t work). They also have a Beijing ad agency (one of the "major clients" is Citic Guoan football club - Sino-i has a large stake in Citic Guoan) and a company that is planning to do broadband and wireless internet services. And they have property.
According to Sino-i.com, their subsidiary Hong Kong Network TV Ltd. has established a "strategic alliance" with Hutchison Telecom to bring broadband service to every family in Hong Kong, and "NETV`s cable programming will be delivered through broadband cables to very (sic) corner in Hong Kong." Sino-i.com also says Jackie Chan is going to be their publicity ambassador.
Hutchison Global Crossing, however, said it is only in talks about leasing lines to Sino-i.com. Perhaps "strategic alliance" can have a variety of interpretations.
Sino-i.com, formerly known as South Sea Development, has been losing money since 1996. In a bid to jump on the internet bandwagon, the company has invested in a number of enterprises that will drain money but not contribute to profits for at least the foreseeable future. Combine this with decreasing earnings in other divisions such as hotel management, and the net losses look set to continue.
Quamnet`s advice is look for other places to invest your money.