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E-Shore Attracts International E-Commerce Business To Malta

David Kelleher, MaltaMedia

15 May 2000

This story is reproduced by kind permission of MaltaMedia at http://www.maltamedia.com/maltanews/index.html


e-shore attracts international e-commerce business to Malta
by David Kelleher


A new company offering advice on how to do business on-line has just signed a contract with e-shore (www.e-shore.net), the e-commerce business arm of Terranet Ltd, a fully owned subsidiary of Maltacom.

Excelstocks (www.excelstocks.com), e-shore's first international client, are in the business of giving investment advice over the Internet primarily aimed at the European markets.

It is the intention of the company to evolve into one of Europe's major online trading companies within the next 18 months.

"Our model is to go through banks and offer to their clients investment opportunities over the Internet," Michel Rostaing, managing director of Excelstocks said.

"We have found Malta to be an excellent location for setting up this sort of business, and although initially we will be using e-shore for Internet transaction clearing, it is our intention to bring the complete back office operation here within the medium term.

This will generate employment directly, but more importantly through generating work for the local services industries."

Maltacom chairman Maurice Zarb Adami said the signing was a very important first for e-shore and that the company's efforts to set up a state-of-the-art Internet commerce system in Malta were starting to pay off on the international scene.

Speaking at the signing of the contract on Saturday he said that "although as part of the Maltacom's strategy e-shore e-commerce services will play an important part in our plans for the local market, we have also been targeting the international market from day 1". Keith Fearne, CEO of Terranet Ltd noted that "e-shore is a new dimension of doing business which we want to introduce on an international level.

Not onshore, not offshore, but e-shore. We believe that Malta is ideally positioned to attract European e-commerce set-ups and this deal confirms it.

"We have much lower cost of operations and production, our property is cheaper, we speak Italian and English, we are within the same time zone, and a few hours away from any European city.

"We have a highly qualified work force and of course there are fiscal benefits which support the Internet commerce model very well. Bringing e-shore business to Malta could be a major source of investment and employment."

e-shore is working closely with a number of local and international partners in order to be in a position to offer a better proposition to its clients.

On the Excelstocks project, it has worked closely with Muscat Azzopardi, Spiteri and Associates who have been instrumental in bringing the client to Malta and have been advising them from a legal and fiscal perspective. The Bank of Valletta were also involved in providing the Credit Card transaction services.


e-shore may be reached at info@e-shore.net or on tel: 489400.

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