KUALA LUMPUR, 20 August 2002 - ECnet, a leading global provider of collaborative supply chain solutions and management services, and Iglo (M) Sdn Bhd, an independent regional 3rd Party Service Provider for Temperature Controlled Logistics, have signed a Memorandum of Understanding (MOU), to jointly offer the two companies' core solutions in the engagement of business opportunities in Malaysia and the region.

Through this partnership, Iglo, a subsidiary of KLSE-listed Haisan Resources Berhad, will be able to leverage on ECnet's proven supply chain solutions and expertise, to strengthen their value proposition to existing and new business initiatives. ECnet's solutions enable more than 1,400 customers to facilitate collaboration with their suppliers, customers and logistics service providers.

Similarly, it enables ECnet to tap on Iglo's strengths and expertise in the area of cold supply chain fulfillment, in the FMCG (Fast Moving Consumer Goods) and Retail verticals, with about 95% of Iglo's business coming from the food industry. Cold Chain logistics requires the product to be maintained at the optimum "low temperature environment", both in storage and in transit. Such stringent requirements ensure that the product is delivered at the final leg of the supply chain in the pre-specified condition - safe and ready for consumption.

Currently, Iglo is the temperature controlled supply chain service provider for Unilever Walls in Malaysia, the Philippines and China. Iglo is responsible for managing and operating logistics activities for its ice-cream products. Other customers include major global food manufacturers. Iglo is also able to provide storage for electronics, pharmaceutical and "halal food" chemicals products with storage temperatures ranging from +20°C down to - 28°C accordingly.

"ECnet today helps organisations to reduce time to market, operate more efficiently and most importantly, get closer to their customers and trading partners. This strategic alliance with Iglo will allow ECnet to offer an even more compelling business proposition for all our customers, giving them a competitive edge. The joint solution from ECnet and Iglo will be capable of ensuring that the optimal inventory is kept at the right place and in the ideal environment, both in storage and in transit, as well as maintain optimum stock quantity with closely monitored inventory turnaround. With ECnet's solution and Iglo's "low temperature" infrastructure, we offer customers a flexible and dynamic distribution and replenishment solution. We look forward to a long and enriching working relationship with Iglo, whereby both parties collaborate to develop and offer solutions and business propositions to the FMCG and retail companies," said Mr. Ling Wee Seng, Senior Vice President, Global Sales & Marketing, ECnet Limited.

Mr.Raymond A. E. de Graaf, CEO, Iglo (M) Sdn Bhd said, "As a specialist in the provision of low temperature controlled operations, we see a tremendous potential as an independent 3rd Party Logistics provider. However, this niche market segment requires substantial investments for the establishment of a network of MTCF's (Multiple Temperature Controlled Facility) & CWDC's (Central Warehouse & Distribution Center). Through this collaboration, it enables both parties to leverage on each other's strengths and to provide value-added solutions and services to our new and existing customers, enabling them to have a seamless integration and closer trading partner relationships. We are confident that this partnership will lead to greater mutual opportunities and benefits."