Sun Hung Kai Properties (SHKP) announced that it would start doing internet business when its first e-commerce site, "red-dots", goes into operation shortly. The site will provide an electronic auction service and as a demonstration of the Group's confidence in e-commerce, it will offer a top-quality residential unit with sweeping sea views on the red-dots site.

An SHKP spokesperson said that red-dots was SHKP's first foray into Internet business, and that in the future the Group will continue to seek additional opportunities on the net, expanding its presence when appropriate.

The spokesperson said that SHKP's core business would continue to be the development of premium quality properties in Hong Kong. But at the same time, it would also invest selectively in high technology projects with top quality and good potential, to keep up with the high-tech development of Hong Kong. SHKP has been incorporating hi-tech domestic facilities in its residential developments for some time to maintain its high competitiveness.

The red-dots on-line auction site will be operated by an SHKP subsidiary, Red-dots Limited, which has a talented young team with substantial experience in the field. Red-dots will treat all client information in the strictest confidence, using an on-line payment system form a world-class bank. All information will be transferred through an SSL system, to guarantee that it is safe and secure.

Red-dots has arrangements with many strong business partners to provide brand new goods at attractive prices for auction on the site, so it will have a complete selection of first and second hand goods available as soon as it starts business. While SHKP has decided to auction a high-floor apartment with sea view to provide initial publicity, it has no plan to use the Internet to sell its new developments.

The spokesperson said there were unlimited business opportunities on the Internet, and since the potential for red-dots was not limited to on-line-auctions, SHKP would expand according to market trends, investing selectively in other areas with high potential.