Technology investor vLink Global plans to use its HK$470 million in cash to buy Internet-enabling businesses in China and South Korea. 'The first criteria is the business should be profitable,' chief executive Jimmy Wong said yesterday. Management was also important, Mr Wong said. 'A company needs good people to keep its business growing. Because we have enough capital, there is no investment cap - opportunities are what we are more concerned with.' The company had set up an office in Korea and had held talks with different parties on forging co-operation. Mr Wong said China would be the next country in which vLink Global would establish a presence and the company hoped to open offices in Beijing and Shanghai as soon as possible. It would seek Internet infrastructure and Internet-enabling business opportunities in the mainland. Formerly Freight Links Express Holdings, vLink has transformed itself into a technology investment company after South Korea-based Samsung Consortium, GE Asia Pacific Capital Technology Fund and Yu Ming Investments bought a controlling 62 per cent stake in May. Business strategy has been repositioned to focus on Internet-enabling technology, consulting and provision of application services. Since the change of control, the company has made two key investments, acquiring a stake in information technology solutions and consultancy provider Future Solutions Laboratory and Internet consulting and services provider Core Solutions in July. Mr Wong said Future Solutions, in which vLink has a 25 per cent stake, had applied for a Growth Enterprise Market listing and was hoping to float by the end of the year. He said vLink hoped to establish a presence in Taiwan, Singapore and Australia at a later stage as its strategy was to build a group of technology-driven business operations, with Internet-enabling business a key area, in the Asia-Pacific region. The company had no plans to dispose of, or terminate, its freight-forwarding business and transport-related operation - the core activities of Freight Links - despite the focus of business development having shifted. Mr Wong said vLink was expected to turn its performance around with contributions from transport and technology businesses. In the year to April 30, the company trimmed its loss to HK$59.82 million from HK$67.28 million a year earlier.