PPPC invested S$700,000 and owns 77.7 percent of P3.com while Ezyhealth pumped in S$200,000 for the remaining stake.
According to statement to the Singapore Exchange today, PPPC said that P3.com's management can subscribe for 100,000 shares at S$1.00 each until end March. Upon full subscription by the management, the shareholding of PPPC and Ezyhealth would reduce to 70 and 20 percent respectively.
The joint venture will provide Internet solutions related to the development and operation of an education portal targeted at students at all levels. PPPC will provide content while Ezyhealth will design and develop the portal.
In February, PPPC invested S$1.5 million in Ezyhealth for a 3 percent stake to spearhead the former's entrance into e-commerce.
PPPC was incorporated on 4 March 1971 under the name Pan-Pacific Book Distributors (S) Pte Ltd. The principal activities of the Group are publishing, distributing books, educational products and stationery; importing, exporting and dealing in all kinds of paper products; investment and trading in securities through licensed brokers for the Company's own account; investment holding and providing business management and consultancy services; general trading and film dubbing services, and motion picture and videogram distribution.
Ezyhealth's portals--Ezyhealth.com and drhub.com--aggregate health-related content from Reuters Health Information, Mediconsult.com, medical professionals and medical bodies. The portals also provide a directory of medical and pharmaceutical suppliers, distributors and service centers here.
With the investment, PPPC will be conducting joint marketing exercises with Ezyhealth for the latter's healthcare portals and P3.com's education portal.
Major shareholders of Ezyhealth include Singapore Telecom chairman Koh Boon Hwee, GES International chairman Goh Lek Tuan and Eltech Electronics Resources managing director Tan Geh.
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