Global Ecomm to reincorporate to the Island and set up an on-line shopping mall, selling high quality goods on the Internet. Ahmed ElAmin reports A group of entrepreneurs has set up in Bermuda to market the Island as a premier site for electronic commerce transactions.

Global Ecomm, Inc. plans on launching an Internet shopping mall with 30 international vendors by the end of this month. The company forecasts it will have 100 vendors on the site in 12 months.

The transactions will be processed through the Bank of Bermuda Ltd. The company is using Logic Communications Ltd. as the server provider.

The site, www.globalstore.net, is set up as an on-line shopping mall offering specialty products. The company's first Internet vendor is Hanson Brothers Seafood, based in Portland, Maine. Hanson is currently using the company to sell live seafood delivered anywhere in continental US through its Web site at www.seafoodnow.com.

Global Ecomm chief executive officer and president Steven Harpur said the company was targeting vendors with high quality goods selling for high margins. Companies qualify for the site by having quality control and the ability to ship quickly. Under agreements being struck with vendors, Global Ecomm gets the exclusive right to sell a company's goods on the Internet. The transactions are conducted through Bermuda and the vendor is then paid by Global Ecomm.

Vendors include those selling facial creams, high priced wines, cigars, sporting goods, and specialty foods. Kurian Creams, for example, is a facial cream manufactured in the US from hand mixed herbs grown by the Kurian family in India.

The company's other business is as a consultant advising clients on how to get more visitors to their Internet sites.

"We view the Web as the world's biggest library with all the books on the floor,'' Mr. Harpur said. "If you can't get people to come to your site then you can't sell to them.'' Global Ecomm currently has three employees, including Mr. Harpur, at offices in Washington Mall and is planning on hiring three more. The company was founded in Barbados last year by Mr. Harpur, Alexander Lauchlan, Steven Stout, and John Brier.

"We soon realised Bermuda was the place to be from a tax perspective,'' Mr.

Harpur said. "I am personally enthusiastic by the Government's plan to adopt new electronic commerce legislation.'' Global Ecomm relocated operations to Bermuda as a permit company and is in the process of reincorporating to the Island. Mr. Harpur previously worked in Bermuda for Lines Overseas Management. Mr. Lauchlan is married to a Bermudian.

In a reverse takeover transaction Global Ecomm will become an operating subsidiary of Vancouver Stock Exchange listed company Sheffield Resources Inc.

The share exchange transaction is subject to regulatory approval.

Company plans e-commerce deals Once approval is given Sheffield will change its name to Globalstore.net Inc.

with 100 percent ownership of operating entity Global Ecomm. Trading in Sheffield shares is currently halted on the Vancouver Stock Exchange pending approval.

A private placement of up to $2 million worth of shares is being negotiated to finance Globalstore.net. The company also owns five percent of Broadcastmusic.com Inc. a spinoff Internet project based in Portland.

Broadcastmusic.com is an Internet broadcaster under contract to transmit 110 radio stations over the Web. The company also has the exclusive right to broadcast syndicated radio programmes. Mr. Lauchlan is chief executive officer of Broadcastmusic.com, which plans on launching its products this month.

Global Ecomm has preferred advertising rights on the site.

Mr. Stout will become the chairman and president of Globalstore.net Inc. Mr.

Brier is president of Broadcastmusic.com.

Alexander Lauchlan Steven Harpur