Bangkok--Aug 16--Pantavanij.com Pantavanij Co., Ltd. today announces the official launch of the country's most comprehensive horizontal e-marketplace, pantavanij.com, offering a new platform for Thai businesses to conveniently buy and sell products through the exchange. The market site currently has more than 100 sellers and buyers joining the network. Formed on January 11, 2001, Pantavanij is one of Thailand's leading electronic marketplaces founded by Bangkok Bank Plc, Siam Cement Group Plc, Siam Commercial Bank Plc, TelecomAsia Corporation Plc, United Communication Industry Plc and Chareon Pokphand Group Plc via Freewill Solutions Co., Ltd Commenting on the official launch, Mr. Tri Kanchanadul, Pantavanij's CEO, said, "The system test run for online auction and e-procurement services during the past few months have given us great confidence in the reliability of our network, power our applications, and the skills of our team. The new service will enable Thai businesses, including those within the network of the founding member companies, to successfully reap the benefits from the technology and efficiently expand their businesses, which will in near future include the global arena through Pantavanij's reliable and secure network. We believe this would strengthen Thai companies' development." Pantavanij.com currently has over 100 buyer and supplier member companies from various industries already using on its network. The company expects that its open policy will encourage over 400 suppliers to join the network by the end of this year. Pantavanij also expects to have over 40,000 SKU (stock keeping unit) to be cataloged on the e-marketplace in the first year of operations. The core services provided by the company include e-procurement and online auction. For e-procurement, multiple buyers can access catalogues of multiple sellers and purchase indirect goods and services online through pantavanij.com. Buyers, large and small, are able to access all the products available on the market site and are able to indulge in up-to-the-minute price comparisons. Pantavanij also provides content management that includes product data and prices through suppliers' catalogues as well as automatically created trading reports for both buyers and suppliers. Since "going live" on June 18, Pantavanij's e-catalogue has already handled transactions worth Bt45 million in total and over 1,000 electronic purchase orders. Online auction, another core service, offers opportunities for buyers and sellers to obtain the required goods at the best price through transparent, quick and convenient process. Pantavanij's services include both Forward Auction and Reverse Auction. For the Forward Auction, sellers offer to sell a particular product or products with buyers submitting bids, and the buyer with the highest bid wins. Most of the goods sold through the forward auction method are office automation and electronic equipment such as telephones, fax, PDA and PCT. On the other hand, the Reverse Auction refers to the services where buyers initiate the auction to buy a particular product or products with sellers submitting bids, and the bidder with the lowest bid wins. This can help buyers save 10-30%. Since the soft launch, pantavanij.com has already handled 7 Reverse Auctions with Bt35 million in auction value and over 30 Forward Auctions. Other support services Pantavanij offers to its members are logistics by leading transport firms, factoring service that enables suppliers to exercise the option of discounted cash based on the accounts receivable amount, and e-payment service where customers can make real-time online payment through the secure systems of Bangkok Bank and Siam Commercial Bank. Pantavanij's electronic marketplace is backed by the world's top-notch consulting & service provider Accenture, providing business integration services and implementation of CommerceOne software, and with Microsoft's operating system and relational database software as well as Compaq's hardware and reliable backup servers. "Online trading will become one of the most important channels in the future. The Asia-Pacific region will become the world's most important market for Internet-based business operations. Thai businesses, therefore, have to rely more on e-commerce. Pantavanij's reliable e-marketplace emerges as an interesting alternative for Thai enterprises to reap benefits from the technology and move towards success in the New Economy," said Tri. Issued : Pantavanij.com For further information : Nisakorn Wanglee Tel. 0-2654-1499 End.-AN-