KEPPEL Telecommunications & Transportation (KTT) has paid $1.2 million for a 51% stake in Netrust, South East Asia's first digital certification authority provider.

It acquired the stake from Info-communications Development Authority of Singapore (IDA). The services provided by Netrust are expected to become increasingly important as e-commerce spreads more widely. Netrust offers individuals, businesses and government organisations with a complete on-line identification and security infrastructure. This allows secure and trusted electronic commerce and digital transactions across the Internet and other non-face-to-face modes of transaction.

KTT managing director Ng Eng Ho yesterday said the acquisition was a key part of Keppel T&T's new e-Initiatives. "Netrust is another important building block in Keppel T&T's e-commerce strategy. We already have in place strong pillars in the e-commerce world which include our Internet service provider arm in D1 (DataOne) and core businesses in telecoms and logistics.

"We believe in the strong business potential of Netrust because there'll be increasing need for a trusted certification authority provider as the number of Internet business users increases."

As Asian consumers increasingly embrace e-commerce as a way of life, he said KTT could help enterprises and government agencies build high-value ties on the Web by delivering secure and reliable on-line electronic services in real-time. In addition, KTT also wants to expand the regional market reach of Netrust's services and create secure virtual communities with digital signature verification.