Freight Links Express Holdings shareholders have approved the takeover of the company by a group of investors and its revamp into an Internet incubator. The company, which was renamed vLink Global yesterday, will focus on investments in Internet enabling technology and infrastructure providers, chief executive Jimmy Wong said. 'We will have HK$520 million cash in hand to fund investments,' Mr Wong said. Most of this cash will come from the proceeds of a placement of new shares and the granting of options to the company's new investors led by South Korea's Samsung Consortium, the regional GE Technology Fund and locally listed Yu Ming Investments. The new investors will hold 62 per cent of the company after the placement, which was also cleared by shareholders yesterday. VLink Global chairman Walter Sousa, who is also the managing director of the GE Technology Fund, said vLink Global was the fund's first investment. Mr Wong said shareholders did not yet have any plan to inject assets into the company but vLink was eyeing some Internet projects in Korea and Singapore. The investment strategy would target start-ups with a niche market and established companies with a proven revenue model, Mr Wong said.