Genesis Hotels and Resorts Corp.

Asiatravel

Mr. Boh Tuang Poh founded Asia Travel (AT) in September 1995, when he launched asiatravel.com in Thailand as an online travel portal providing hotel reservatin services on the internet. AT started in Thailand because it was cheaper to operate there and it was one of the premiere in-bound tourist destinations in South East Asia. To complement the global reach of our websites, AT quickly established offices in Indonesia, the Philippines and Hong Kong in 1996 to provide telephone and internet inquiries, as well as reservation fulfillment services and to develop direct business relationships with it's hotel suppliers. In 1997, AT established offices in Singapore and then in Australia and UAE offices in 1999 and 2000 respectively to extend AT's global reach beyond Asia Pacfic.

As part of AT's plans to increase our product and service offerings, AT acquired SH Tours as its ground handling division in 2000 as part of the Restructuring Exercise. SH Tours maintains tour desks at 29 major hotels and conducts sightseeing tours in Singapore. SH Tours also operates a fleet of 26 coaches and trolley buses. Currently, SH Tours services approximately 300,000 passengers annually on various Singapore Airlines and Tradewinds programs in Singapore.

Range of Products and Services
Complementary products such as air ticketing, ground transfers, sightseeing. In the span of five years from 1995 to 1999, we have expanded our service portfolio from only hotel room reservations to include a range of travel products and services, such as air-ticketing, sightseeing, ground handling and transfer services. As of January 2001, our websites have received an average of 25,0000 visitors per day, resulting in approximately, 100,000 page-views per day. We now have sales and reservation offices in Singapore, Hongkong, Thailand, the Philippines, UAE, Indonesia, Australia, VIetnam, Guam and PRC.

Where Asia Travel Customers Come From
• 60% from USA / North America
• 20% from Europe
• 20% from Asia / rest of the world

Currently, other than Tradewinds, our customers are mostly individuals. THere is no single customer who accounts for 5% or more of our Group turnover for the past three financial years. Based on our Internet customer statistics, approximately 60% of our customers are from USA and 20% each from Europe and Asia.

Subsidiary Companies Held by the Company

AT Reservation Network Pte Ltd.
Provision of internet hotel reservation service, website membership and sale of tour packages.

SH Tours Pte. Ltd
Provision of tours and transportation packages

Subsidiary Companies Held by Asia Travel Reservation Network Ltd
Provision of internet hotel reservation service website membership and sale of tour packages.

AT Network Co. Ltd
AT Phil. Inc.
Asia Travel Network Ltd
PT Asia Travelindo Nusantara
Asia Travel Network Pty Ltd