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SCMP Reporter

Tom.com - whose frenzied share offering marked the height of the Internet boom - appears to be the latest firm trying to distance itself from its dotcom roots.

The company, which has diversified from being an Internet portal into more traditional businesses including print and outdoor media, has said it is better to call the company Tom Group.

Chief executive Sing Wang said it was 'more appropriate' to call the company this to reflect its expansion as a media firm and telecommunications service provider for Greater China.

'But we will not give up tom.com Ltd, which is our registration name,' Mr Wang said after yesterday's annual general meeting. 'Just call us Tom Group. That will be shorter and easier.'

The company, armed with hefty proceeds after its March 2000 listing on the second board, has embarked on a spending spree to diversify into offline businesses.

It claims to be the No 1 player in sport and marketing promotions, print and outdoor media and also made a foray into the music and video market by acquiring a Guangzhou-based video and audio product manufacturer and distributor.

Mr Wang expected revenue from online businesses would account for about 20 per cent this year.

Meanwhile, he expected first quarter revenue would remain flat due to the sluggish economy.

In the fourth quarter last year, the company reported a loss before interest, taxation, depreciation and amortisation of HK$45 million on revenue of HK$245 million on the back of a first-time contribution from its largest print ventures, PC Home and Cite.

'The sales from [Taiwan's] Business Weekly will be the only new income earner in the first quarter,' Mr Wang said.

He said the period was a slow season for media businesses, due to difficulties generating interest in advertising sales during the lengthy holidays, adding the second quarter should show an improvement. However, he expected significant improvement in the second quarter.



Tom.com becomes Tom Group