<PAGE>

Exhibit 10.73


                        DATED THIS 15th DAY OF MARCH 2001


                      TECHNOCHANNEL TECHNOLOGIES SDN. BHD.

                             (Company No. 426318-M)

                                       AND

                             MYWEB TECHNOLOGIES LTD

                    =========================================


                           SALE AND PURCHASE AGREEMENT

                                  (For Shares)

                    =========================================




                                 SHOOK LIN & BOK
                             ADVOCATES & SOLICITORS
                       20TH FLOOR, ARAB-MALAYSIAN BUILDING
                              55 JALAN RAJA CHULAN
                               50200 KUALA LUMPUR


<PAGE>



                                TABLE OF CONTENTS

HEADING                                                                 PAGE

PARTIES                                                                   1

ARTICLE I         RECITALS

Section 1.01      The Company                                             1
Section 1.02      Agreement to sell and purchase                          1
Section 1.03      The Exercise                                            1
Section 1.04      Approval from LFX                                       2

ARTICLE II        DEFINITIONS

Section 2.01      Definitions                                             2

ARTICLE III       SALE AND PURCHASE OF THE SHARES

Section 3.01      Agreement to sell and to purchase                       4
Section 3.02      Consideration                                           4

ARTICLE IV        CONDITIONAL AGREEMENT

Section 4.01      Conditions Precedent                                    4
Section 4.02      Application for approvals                               4
Section 4.03      Notification                                            5
Section 4.04      The Option Period                                       5
Section 4.05      Appeals                                                 5
Section 4.06      The Cut-Off Date                                        6

ARTICLE V         COMPLETION

Section 5.01      Completion of sale and purchase                         6
Section 5.02      Vendor holding as trustees                              7
Section 5.03      Concurrent actions to be taken by Vendor                7

ARTICLE VI        VENDOR'S UNDERTAKINGS PENDING COMPLETION

Section 6.01      Vendor's Undertakings                                   7



<PAGE>




ARTICLE VII       WARRANTIES AND UNDERTAKINGS

Section 7.01      Vendor's warranties and undertakings                    8
Section 7.02      Warranties and Undertakings on completion              10
Section 7.03      Purchaser's warranties and undertakings                10
Section 7.04      Warranties etc., to continue after completion          10
Section 7.05      Right of parties to rescind Agreement                  11
Section 7.06      Rescission will not affect right to damages            11

ARTICLE VIII      INDEMNITIES BY THE VENDOR

Section 8.01      Vendor's Indemnities                                   11
Section 8.02      Indemnity regarding tax                                11

ARTICLE IX        MISCELLANEOUS

Section 9.01      Specific Performance                                   11
Section 9.02      Successors Bound                                       12
Section 9.03      Governing Law                                          12
Section 9.04      Severability                                           12
Section 9.05      No Assignment                                          13
Section 9.06      Notice                                                 13
Section 9.07      Time                                                   13
Section 9.08      Further deeds and acts                                 13
Section 9.09      Costs and expenses                                     13
Section 9.10      Schedules                                              13
Section 9.11      Variation of terms by mutual Agreement                 13
Section 9.12      Confidentiality                                        14

THE SCHEDULE      Vendor's Warranties and Undertakings                   15

EXECUTION PAGE                                                           24

                                      (ii)


<PAGE>

AN AGREEMENT made the 15th day of March 2001 Between:

1.       TECHNOCHANEL  TECHNOLOGIES SDN BHD (Company No. 426318-M), a company
         incorporated under the laws of Malaysia and having its registered
         office at 17th Floor, Semua  House, No. 3, Jalan Bunus Enam, Off Jalan
         Masjid India, 50100 Kuala Lumpur (the "VENDOR") of the one part; And

2.       MYWEB TECHNOLOGIES LTD, a company incorporated under the laws of the
         British Virgin Islands and having its registered office at Jipfa
         Building, P.O. Box 181, Road Town, Tortola, British Virgin Islands (the
         "PURCHASER") of the other part.


                                    ARTICLE I

                                    Recitals

Section 1.01      The Company


MyWeb Access Sdn. Bhd. (Company No. 533653-U ) (the "COMPANY") is a company with
limited liability incorporated under the Companies Act, 1965 on the 4th day of
December 2000 with an authorised capital of Ringgit Malaysia One Hundred
Thousand (RM100,000.00) divided into 10,000,000 ordinary shares of RM0.01 each,
of which 10,000 have been issued and are fully paid up or credited as paid up,
all of which (the "SHARES") are beneficially owned by the Vendor.


Section 1.02      Agreement to sell and purchase

Subject to the terms and conditions hereinafter contained, the Vendor has agreed
to sell and the Purchaser has agreed to purchase all of the Shares on and
subject to the terms and conditions and on the basis of the representations,
warranties, undertakings and agreements hereinafter mentioned.

Section 1.03      The Exercise

This sale and purchase is part of a larger corporate exercise (the "EXERCISE")
pursuant to which it is proposed that:-

         (i)      the sale and purchase of the Shares upon the terms hereof will
                  be completed;

         (ii)     the legal and  beneficial  owners of all the shares in
                  UNIOFFICE SDN. BHD.  (Company No.  491165-A) will sell all
                  their shares in the said company (the "UNIOFFICE SHARES") to
                  the Purchaser;

         (iii)    the legal and beneficial owners of all the shares in MYWEB
                  E-COMMERCE SDN BHD. (Company No. 476442-P) (the "MWEC SHARES")
                  will sell such shares to the Purchaser; and

         (iv)     the shares of the Purchaser will be listed on the Labuan
                  International Financial Exchange.

<PAGE>



Section 1.04      Approval in Principle from LFX

By a letter dated the 21st day of February 2001 the Labuan International
Financial Exchange ("LFX") has approved in principle the proposed listing and
quotation of all the Purchaser's shares on the LFX.


NOW THIS AGREEMENT WITNESSETH as follows:

                                   ARTICLE II

                                   Definitions

Section 2.01      Definitions

In this Agreement and the Schedules hereto unless there be something in the
subject or context inconsistent therewith:-

         (i)     the following expressions bear the following meanings namely:-

                "Auditors" means the auditors for the time being of the Company;

                "Business Day" means a day other than a Saturday, Sunday or a
                public holiday on which banks are open for business in Kuala
                Lumpur and Sarawak.

                "Taxation" means all forms of taxation whether of Malaysia or
                elsewhere in the world wherever imposed (including without
                limitation, corporation tax, profits tax, capital gains tax,
                income tax, development land tax, estate duty, capital transfer
                tax, national insurance, stamp duty, capital duty, value added
                tax, customs and other import or export duties) and all
                statutory, governmental, state, provincial, local governmental
                or municipal impositions, duties and levies and all penalties,
                charges, costs and interest relating thereto;

         (ii)   any reference to a statutory provision shall include such
                provision and any regulations made in pursuance thereof as
                from time to time modified or re-enacted whether before or
                after the date of this Agreement so far as such modification
                or re-enactment applies or is capable of applying to any
                transactions entered into prior to


                                      -2-
<PAGE>

                completion and (so far as liability thereunder may exist or can
                arise) shall include also any past statutory provisions or
                regulations (as from time to time modified or re-enacted) which
                such provisions or regulations have directly or indirectly
                replaced;


         (iii)  references to Recitals, Clauses, Annexures and Schedules are
                to Recitals, Clauses, Annexures and Schedules of this Agreement;

         (iv)   the headings are for convenience only and shall not affect the
                interpretation hereof;

         (v)    words denoting the singular number only shall include the plural
                number and vice versa;

         (vi)   words denoting the neuter or masculine gender only shall include
                the feminine gender and the masculine or neuter gender, as the
                case may be;

         (vii)  "Ringgit Malaysia" and "RM" shall be construed as references
                to the lawful currency for the time being of Malaysia;

         (viii) "US Dollars" and "US$" shall be construed as references to the
                lawful currency for the time being of the United States of
                America; and

         (ix)   references to any agreement or document herein shall be a
                reference to the same as from time to time varied in any
                manner whatsoever and any other agreements or documents from
                time to time executed supplemental or in addition thereto or
                in substitution therefor, unless the context otherwise
                requires.


                                   ARTICLE III

                         Sale and Purchase of the Shares

Section 3.01      Agreement to sell and to purchase

Subject to Section 4.01 hereof, the Vendor hereby agrees to sell to the
Purchaser and the Purchaser hereby agrees to purchase from the Vendor the Shares
free from all claims, charges, liens, encumbrances and equities together with
all rights attached thereto and all dividends and distributions declared paid or
made in respect thereof by reference to a record date which is after the date
hereof for the consideration stated in Section 3.02 hereof.

Section 3.02      Consideration


The total consideration to be paid by the Purchaser to the Vendor for the Shares
is the sum of Ringgit Malaysia One Hundred Only (RM100.00) (the "PURCHASE
PRICE") which shall be satisfied by cash.


                                      -3-
<PAGE>

                                   ARTICLE IV

                              Conditional Agreement

Section 4.01      Conditions Precedent

(1)      This sale and purchase of the Shares is conditional upon:-

         (i) the approvals of all relevant authorities necessary for the
         Exercise being obtained;

         (ii) there having been no material adverse change in the financial
         business or trading position of the Company prior to the Completion
         Date.

(2)      The Purchaser may in its sole and absolute discretion waive any of the
         Conditions Precedent that are capable of being waived, by notice in
         writing to the Vendor prior to the Cut-Off Date (as hereinafter
         defined).

Section 4.02      Application for approvals

Immediately upon the execution of this Agreement, each of the parties hereto
shall take the necessary steps to apply for the approvals and or procure the
fulfilment of the conditions referred to in Section 4.01 hereof and to do all
things necessary to obtain and or procure the same and the Purchaser and the
Vendor shall exercise respectively their best endeavours to assist each other in
their applications and or efforts as aforesaid.

Section 4.03      Notification

Upon any of the consents or approvals referred to in Section 4.01 hereof being
given or obtained, or upon the fulfilment of any of the conditions therein
referred to, the party obtaining the consents and approvals or fulfilling such
condition shall immediately notify the other party in writing and (where
relevant) shall forward to the other party a copy thereof.

Section 4.04      The Option Period

                                      -4-
<PAGE>

In the event that a condition is imposed by any of the relevant authorities in
respect of any of the approvals and consents referred to in this Article IV
which affects any of the parties hereto, that party shall have the option to be
exercised within fourteen (14) days from the date on which the condition is made
known to the party affected (the "OPTION PERIOD") by written notice to the other
party, not to accept such condition, whereupon the approval or consent in
respect of which the said condition is imposed shall be deemed not to have been
obtained for the purpose hereof. If such option is not exercised within the
Option Period such approval or consent in respect of which the said condition is
imposed shall be deemed to have been obtained for the purpose hereof.

Section 4.05      Appeals

Notwithstanding any other provisions in this Agreement to the contrary but
subject always to Section 4.06 hereof, the affected party may, within the Option
Period, appeal or require the party who made the application for the approval to
appeal to the relevant authorities to modify and/or withdraw any of such terms
and conditions attached to its approval.

         (i)      In the event of the relevant authorities agreeing before the
                  Cut-Off Date, to modify and/or withdraw such terms and
                  conditions requested for by the affected party the approval in
                  respect of which the said condition is imposed shall be deemed
                  to have been obtained for the purpose hereof.

         (ii)     In the event of the relevant authorities refusing or failing
                  to modify and/or withdraw any of such terms and conditions
                  requested for by the affected party and or failing to revert
                  on the appeal by the Cut-Off Date, the affected party shall
                  have the option to be exercised within fourteen (14) days
                  (hereinafter referred to as the "SECOND OPTION PERIOD") of
                  being notified of such refusal or failure, as the case may be,
                  but not later than fourteen (14) days after the Cut-Off Date,
                  either:-

                  (a) to accept such condition by written notice to the party
                  notified whereupon the approval in respect of which the said
                  condition is imposed shall be deemed to have been obtained for
                  the purpose hereof; or

                  (b) to reject such condition by written notice to the party
                  notified whereupon the approval in respect of which the said
                  condition is imposed shall be deemed not to have been obtained
                  for the purpose hereof.

It is hereby expressly agreed that in the event that no written notice is
received by the party notified within the Second Option Period, such approval in
respect of which the said condition is imposed shall be deemed to have been
obtained for the purpose hereof.

Section 4.06      The Cut-Off Date


In the event of the approvals and conditions mentioned in this Article IV not
being obtained, fulfilled and or waived, as the case may be, on a date that is
*six (6) months from the date of this Agreement or such other later date as may
be agreed upon in writing between the parties hereto (the "CUT-OFF DATE")
despite all reasonable efforts by the parties hereto, then, subject to Section
4.05

                                      -5-
<PAGE>

hereof, this Agreement shall lapse and be of no further effect and thereafter
the parties shall be released from all further obligations to each other.


                                    ARTICLE V

                                   Completion

Section 5.01      Completion of sale and purchase


Completion of the sale and purchase of the Shares ("COMPLETION") shall take
place simultaneously with the completion of the sale and purchase of the
Unioffice Shares and MWEC Shares to the Purchaser, not later than 5.00 p.m. on
the day falling seven (7) Business Days from the date the last outstanding
Condition Precedent was fulfilled or waived, as the case may be, or such other
date as may be agreed between the parties hereto at the office of Shook Lin &
Bok, Kuala Lumpur or such other place as may be agreed between the parties
hereto, when the following actions shall be taken by the parties hereto:-


         (i)      By the Vendor

              (a) The Vendor shall deliver to the Purchaser:

                  (aa)     valid and registrable instruments of transfer duly
                           executed in favour of the Purchaser or its nominee or
                           nominees as shall be directed by the Purchaser in
                           respect of all of the Shares accompanied by the share
                           certificates thereto together with all other
                           documents relating thereto; and

                  (bb)     the resolution of board of directors of the Company
                           approving the transfers of the Shares to and in
                           favour of the Purchaser or its nominee or nominees
                           and subject only to the same being duly stamped and
                           lodged for registration, passed for registration in
                           the register of members of the Company.

              (b) The Vendor shall repay all monies then owing by them to the
Company whether due for payment or not.

         (ii)     By the Purchaser


         Simultaneously the Purchaser shall pay the Purchase Price to the
Vendor.


         (iii)    The Purchaser may in its absolute discretion waive any
                  requirement contained in Section 5.01(a) and (b).

Section 5.02      Vendor holding as trustees

Insofar as the transfer or delivery or vesting of any of the Shares hereby
agreed to be sold shall not have been completed on the Completion Date, the
Vendor shall as on and from the said time and


                                      -6-
<PAGE>

date be deemed to stand possessed of the Shares as trustees for and on behalf of
the Purchaser and the Purchaser shall indemnify and keep the Vendor indemnified
in respect thereof.

Section 5.03      Concurrent actions to be taken by Vendor

Concurrently with the completion of the sale and purchase as aforesaid, the
Vendor shall take such steps as shall lie within their power to procure the
appropriate meetings to be held by the Directors of the Company at which such
persons as shall be nominated by the Purchaser shall be appointed to the Board
of Directors of the Company.

                                   ARTICLE VI

                    Vendor's Undertakings Pending Completion

Section 6.01      Vendor's Undertakings

Pending the Completion of the sale and purchase herein provided, the Vendor
shall take such steps as shall lie within their power to procure that the
Company will not, save in each case, if previously agreed to by the parties
hereto:-

         (i)      issue or agree to issue any shares or loan capital or agree to
                  grant any option over or right to acquire any share or loan
                  capital;

         (ii)     create, extend, grant or issue or agree to create, extend,
                  grant or issue any mortgages, charges, debentures or other
                  securities;

         (iii)    enter into any long term or abnormal contract or capital
                  commitment;

         (iv)     declare, pay or make any dividend or other distribution or do
                  or suffer anything whereby its financial position shall be
                  rendered less favourable than as at the date hereof;

         (v)      pass any resolution by its members in general meeting contrary
                  to the intentions of this Agreement or make any alteration to
                  the provisions of its Memorandum or Articles of Association;

         (vi)     in any way depart from the ordinary course of its day to day
                  business either as regards the nature scope or manner of
                  conducting the same;

         (vii)    grant or issue or agree to grant or issue any mortgage,
                  charge, debenture, pledge or other encumbrance or security or
                  redeem or agree to redeem any security or give or agree to
                  give any guarantee or indemnity except in the ordinary course
                  of business;

         (viii)   permit any lien to arise on any of its assets;

         (ix)     pay or agree to pay to its Directors or officers or any of
                  them any remuneration or other emoluments or benefits
                  whatsoever other than those which have been disclosed and
                  agreed to by the Purchaser;

         (x)      dispose of any part of its assets except in the ordinary
                  course of business;

         (xi)     apply for, incur or accept any further borrowings, loans, loan
                  facilities and other accommodations other than those already
                  granted to and utilised by the Company as at the date hereof;

                                      -7-
<PAGE>

         (xii)    knowingly permit any of its normal insurances of which it is
                  the insured party to lapse or do anything to make any policy
                  of insurance of which it is the insured party void or
                  voidable; or

         (xiii)   do, procure or allow anything which may cause, constitute or
                  result in the breach of any of the representations and
                  warranties hereinafter set out.

                                   ARTICLE VII

                           Warranties and Undertakings

Section 7.01      Vendor's warranties and undertakings

The Vendor hereby warrants and undertakes to and with the Purchaser and its
successors in title:-

         (i)      in relation to the Shares and itself as follows:-

                  (a)      that it has and will have full power and authority to
                           enter into and perform this Agreement which
                           constitutes or when executed will constitute binding
                           obligations on it in accordance with their respective
                           terms;

                  (b)      if it is a body corporate, that the Vendor is a body
                           corporate validly existing under the laws of its
                           place of incorporation as a separate legal entity and
                           has full power and authority to own its assets and
                           carry on business as is now being carried on;

                  (c)      that the execution, delivery and performance of this
                           Agreement will not exceed the power granted to the
                           Vendor or violate the provisions of (1) any law or
                           regulation or any order or decree of any governmental
                           authority, agency or court to which it is subject or
                           (2) its Memorandum and Articles of Association or
                           other constitutional documents or (3) any mortgage,
                           contract or other undertaking or instrument to which
                           it is a party or which is binding upon it or any of
                           its assets;

                  (d)      that all consents, licences, approvals,
                           authorisations, orders and exemptions of any
                           Ministry, agency, department or authority in Malaysia
                           or elsewhere which are required to be obtained by the
                           Vendor or advisable for or in connection with the
                           execution, delivery, performance, legality or
                           enforceability of this Agreement have been obtained
                           and are in full force and effect;

                  (e)      the Shares will on the Completion Date constitute the
                           one hundred per cent (100%) of the issued and
                           allotted share capital of the Company;

                  (f)      there is not, and at the Completion Date there will
                           be no pledge, lien or other encumbrance on, over or
                           affecting the Shares and there is not, and at the
                           Completion Date there will be no agreement or
                           arrangement to give or create any such encumbrance
                           and no claim has been or will be made by any person
                           to be entitled to any of the foregoing;

                  (g)      the Shares are beneficially owned by the Vendor free
                           from any claims, charges, liens, encumbrances or
                           equities; the Vendor has and will until


                                      -8-
<PAGE>

                           Completion continue to retain the unrestricted rights
                           to transfer the Shares on the terms of this Agreement
                           without the consent of any third party and there is
                           not, nor will there be any option over or right to
                           acquire any of the Shares.

         (ii)     in relation to the Company in the terms set out in the
                  Schedule hereto subject only to:
                  (a)      any exceptions expressly provided for under the terms
                           of this Agreement; and
                  (b)      any matter or thing hereafter done or omitted to be
                           done at the request in writing or with the approval
                           in writing of the Purchaser;

         (iii)    that the said warranties and undertakings shall be separate
                  and independent and save as expressly otherwise provided shall
                  not be limited by reference to any other paragraphs hereof or
                  of the Schedule or by anything in this Agreement and no other
                  information relating to either company of which the Purchaser
                  has knowledge (actual or constructive) shall prejudice any
                  claim made by the Purchaser under such warranties or
                  undertakings or operate to reduce any amount recoverable and
                  the Vendor hereby agrees that such warranties and undertakings
                  are not affected by any investigation into the affairs of the
                  Company made by or for the Purchaser;

         (iv)     in relation to any warranty which refers to the knowledge
                  and/or information on behalf of the Vendor that it has made
                  full enquiry into the subject matter of that warranty.

Section 7.02      Warranties and undertakings on completion

The Vendor further warrants and undertakes to and with the Purchaser and its
successors in title that:

         (i)      subject as aforesaid all warranties and undertakings on its
                  part herein contained will be fulfilled down to and will be
                  true and correct at Completion in all respects as if they had
                  been entered into afresh at Completion; and

         (ii)     if after the signing hereof and before Completion any event
                  shall occur which results or may result in any of the said
                  warranties or undertakings being unfulfilled, untrue or
                  incorrect at Completion, it shall immediately notify the
                  Purchaser thereof prior to Completion.

Section 7.03      Purchaser's warranties and undertakings

The Purchaser hereby warrants and undertakes to and with the Vendor and its
successors in title as follows:-

         (i)      that it has and will have full power and authority to enter
                  into and perform this Agreement which constitutes or when
                  executed will constitute binding obligations on it in
                  accordance with their respective terms;

                                      -9-
<PAGE>

         (ii)     that the Purchaser is a body corporate validly existing under
                  the laws of its place of incorporation as a separate legal
                  entity and has full power and authority to own its assets and
                  carry on business as is now being carried on;


         (iii)    that the execution, delivery and performance of this Agreement
                  will not exceed the power granted to the Purchaser or violate
                  the provisions of (1) any law or regulation or any order or
                  decree of any governmental authority, agency or court to which
                  it is subject or (2) its Memorandum and Articles of
                  Association or other constitutional documents or (3) any
                  mortgage, contract or other undertaking or instrument to which
                  it is a party or which is binding upon it or any of its
                  assets; and

         (iv)     that all consents, licences, approvals, authorisations, orders
                  and exemptions of any Ministry, agency, department or
                  authority in Malaysia or elsewhere which are required to be
                  obtained by the Purchaser or advisable for or in connection
                  with the execution, delivery, performance, legality or
                  enforceability of this Agreement have been obtained and are in
                  full force and effect.


Section 7.04      Warranties etc., to continue after completion

Notwithstanding the Completion of the sale and purchase hereunder, all
warranties, undertakings and obligations given hereunder or undertaken herein
shall continue hereafter to subsist for so long as may be necessary to give
effect to each and every one of them in accordance with the terms hereof but
subject always to a maximum period of two (2) years from the Completion Date.

Section 7.05      Right of parties to rescind Agreement

If prior to Completion it shall be found that any of the warranties or
undertakings on the part of the Vendor or the Purchaser have not in all material
respects been carried out or complied with or are otherwise untrue or incorrect
in any material respect, the Purchaser or the Vendor, as the case may be, shall
be entitled by notice in writing to the Vendor or the Purchaser, as the case may
be, to rescind this Agreement, but failure to exercise this right shall not
constitute a waiver of any other rights of the Purchaser or the Vendor, as the
case may be or their respective successors in title arising out of any breach of
warranty or undertaking.

Section 7.06      Rescission will not affect right to damages

Rescission of this Agreement under Section 7.05 hereof shall not extinguish any
right to damages to which the Purchaser or Vendor, as the case may be, or their
respective successors in title may be entitled in respect of the breach of this
Agreement.

                                      -10-
<PAGE>

                                  ARTICLE VIII

                            Indemnities by the Vendor

Section 8.01      Vendor's Indemnities

Notwithstanding any investigation of the business and assets of the Company made
by or on behalf of the Purchaser, the Vendor will indemnify the Purchaser and
hold the Purchaser harmless from and against any damages, deficiencies, losses,
costs, liabilities and expenses (including legal fees and disbursements) and in
particular, but without prejudice to the generality of the foregoing, from and
against any depletion or diminution of the assets, resulting directly or
indirectly from or arising out any breach of any of the representations,
warranties, covenants and agreements made by the Vendor herein.

Section 8.02      Indemnity regarding tax


The Vendor covenants with the Purchaser who is contracting for this purpose on
behalf of itself and as trustee for the Company that they will indemnify and at
all times keep the Purchaser and the Company indemnified against any diminution
of the net assets of the Company which results from the Company being called
upon to pay any tax or duty other than income tax on normal trading income
arising from transactions entered into the ordinary course of business.


                                   ARTICLE IX

                                  Miscellaneous

Section 9.01      Specific Performance

In the event that any of the parties hereto shall make default in the
performance of its obligations and covenants herein, the other parties shall be
entitled to the remedy of specific performance against the defaulting party and
it is hereby expressly agreed that an alternative remedy of monetary
compensation shall not be regarded as compensation or sufficient compensation
for any party's default in the performance of the terms and conditions herein.

Section 9.02      Successors Bound

This Agreement shall be binding on each party's respective personal
representatives, executors, successors and permitted assigns.

Section 9.03      Governing Law

This Agreement shall be governed by and construed in accordance with the laws of
the States of Malaya and the parties hereto hereby (i) irrevocably submit to the
non-exclusive jurisdictions of the Courts of the States of Malaya (ii) waive any
objection on the ground of venue or forum non


                                      -11-
<PAGE>

conveniens or any similar grounds and (iii) consent to service of process by
mail or in any other manner permitted by the relevant law.

Section 9.04      Severability

If any of the provisions of this Agreement becomes invalid, illegal or
unenforceable in any respect under any law, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or
impaired.

Section 9.05      No Assignment

This Agreement and all rights and obligations hereunder are personal to the
parties hereto and each party hereto shall not assign or attempt to assign any
such rights or obligations to any third party without the prior written consent
of the other party hereto, save and except that the Purchaser shall be entitled
to nominate a nominee or nominees to accept the transfer of some or the whole of
the Shares as it shall deem fit.

Section 9.06      Notice

Notice required or permitted to be given hereunder shall be in writing and shall
be deemed to have been validly given to either party if delivered to or sent by
registered post to its address abovestated or its last known registered office
or place of business (if a company) or the address herein this Agreement stated
or his place of residence (if an individual) and if so given shall be deemed to
be received when delivered (if so delivered by hand) or on the third day of
despatch (if so despatched by mail).

Section 9.07      Time

Time wherever mentioned shall be of the essence of this Agreement.

Section 9.08      Further deeds and acts

All the parties hereto shall execute and do and procure all other persons or
companies, if necessary, to execute and do all such further deeds, assurances,
acts and things as may be reasonably required so that full effect may be given
to the terms and conditions of this Agreement.

Section 9.09      Costs and expenses

The costs of and incidental to this Agreement including the costs of the
applications for the necessary approvals and the stamp fees for the transfer and
registration of the Shares shall be borne and paid by the Purchaser. Each
party shall however be responsible for and bear its own solicitors' costs.

Section 9.10      Schedules

                                      -12-
<PAGE>

The Schedules to this Agreement and the provisions and conditions contained
therein shall form part of this Agreement and shall have the same force and
effect as if set out in the body of this Agreement.

Section 9.11      Variation of terms by mutual Agreement

It is hereby expressly agreed and declared by the parties hereto that the
provisions and terms of this Agreement may at any time and from time to time be
varied or amended by mutual consent of the parties hereto by means of a mutual
exchange of letters or such other means as the parties may agree upon from time
to time and thereupon such amendments or variations shall be deemed to become
effective and the relevant provisions of this Agreement shall be deemed to have
been amended or varied accordingly and shall be read and construed as if such
amendments or variations had been incorporated in and had formed part of this
Agreement at the time of execution hereof.

Section 9.12      Confidentiality

(1)      No announcement of any kind shall be made in respect of the subject
         matter of this Agreement unless specifically agreed between the parties
         or an announcement is required by the relevant Stock Exchange.

(2)      Subject to Section 9.12(1) hereof and except as may be required by the
         appropriate regulatory authorities or by valid legal process, the
         parties hereto agree not to disclose any information with respect to
         the negotiations leading to the sale and purchase of the Shares or the
         sale and purchase of the Shares without the consent, and, where
         applicable, participation in such disclosure, of the other parties
         except to the parties' professional advisors, agents or bankers on a
         need-to-know basis.

(3)      If this agreement ceases to have effect the Purchaser will release and
         return to the Vendor and the Company all documents concerning it
         provided to the Purchaser or its advisers in connection with this
         agreement and will not use or make available to any other person any
         information which it or its advisers have been given in respect of the
         Vendor or the Company and which is not in the public domain.


                                      -13-
<PAGE>



                      THE SCHEDULE HEREINABOVE REFERRED TO

                      Vendor's Warranties and Undertakings

                                 (Section 7.01)

1        INFORMATION

The Recitals are true and all other information in writing which has been given
by any of the Directors or officials or professional advisers of the Vendor or
the Company to any of the Directors or officials or professional advisers of the
Purchaser in the course of the negotiations leading to this Agreement was, when
given, to the best of the knowledge and belief of the Vendor after making due
and careful enquiries true, complete and accurate in all material respects and
after making due and careful enquiries the Vendor is not aware of any fact or
matter not disclosed in writing to the Purchaser which renders any such
information untrue, inaccurate or misleading or the disclosure of which might
reasonably affect the willingness of the Purchaser to purchase the Shares or the
price at or terms upon which the Purchaser would be willing to purchase them.

2        COPIES OF MEMORANDUM AND ARTICLES ETC.

The copies of the Memorandum and Articles of Association of the Company
delivered to the Purchaser are true copies and in the case of the Memorandum and
Articles of Association have attached thereto copies of all such resolutions and
agreements as are required by law to be delivered to the Registrar of Companies
of Malaysia for registration.


3        CHANGES

As regards the Company:-


(a)      its business has been carried on in the ordinary course and so as to
         maintain the same as a going concern;

(b)      it has not disposed of any assets or assumed or incurred any material
         liabilities (including contingent liabilities) otherwise than in the
         ordinary course of carrying on its business;

(c)      its business has not been materially and adversely affected by the loss
         of any important asset or customer or by any abnormal factor not
         affecting similar businesses to a like extent and after making due and
         careful enquiries the Vendor is not aware of any facts which are likely
         to give rise to any such effects;

(d)      no dividend or other distribution has been declared made or paid to its
         members and all profits accrued and accruing will remain in the Company
         for the benefit of the Purchaser as the new shareholder thereof;

(e)      no exceptional change has been made in the basis of the emoluments or
         other terms of employment of its directors or any of its employees.



                                      -14-
<PAGE>

4        LITIGATION ETC.

(a)      No claim for damages has been made against the Company.


(b)      The Company is not at present engaged whether as plaintiff or defendant
         or otherwise in any legal action, proceeding or arbitration (other than
         as plaintiff in the collection of debts arising in the ordinary course
         of its business) and is not being prosecuted for any criminal offence.

(c)      There are no circumstances known to the Vendor after making due and
         careful enquiries likely to lead to any such claim or legal action,
         proceeding or arbitration (other than as aforesaid) or prosecution.


5        TAXATION


(a)      There is no liability to taxation in respect of which a claim could be
         made in respect of the Company other than income tax on ordinary
         trading income arising from transactions entered into in the ordinary
         course of business) and there are no circumstances likely to give rise
         to such a liability and in particular (but without limitation) there
         exist no grounds for:

         (i)      assessment on the Company of additional liability to tax in
                  respect of any transaction between or involving the Company on
                  the one hand and on the other hand any company deemed to be
                  related to the Company under Section 6 of the Companies Act,
                  1965 or any person in which the Vendor and/or any Director of
                  the Vendor or the Company and/or any person connected with any
                  of them has during the three (3) years immediately preceding
                  the date of the agreement been interested;

         (ii)     any claim for tax against the Company under the provisions of
                  any taxation statutes in connection with the transfer of
                  assets to or for the provision of any benefit to any person or
                  whereby, arising from any circumstances, the Company may be
                  held liable for any taxation primarily chargeable against some
                  other person or company.

(b)      The Company has not received any tax concession, relief or other
         special tax treatment, whether in relation to its assets or the
         business to be carried on by it or otherwise, which, if revoked or
         otherwise removed, will or may give rise to any additional liability to
         taxation.

(c)      All documents in the possession or under the control of the Company or
         the production of which the Company is entitled which are necessary to
         establish the title, interest or benefit of the Company to any asset or
         in any transaction and which attract stamp duty in Malaysia have been
         properly stamped.

(d)      No relief or exemption has been obtained from stamp duty which has
         become liable for forfeiture or which has been obtained in respect of a
         transaction carried out within the period in which it may become liable
         to forfeiture.

(e)      All taxation or other sums charged, assessed, levied or payable under
         the provisions of any taxation statute for which the Company is liable
         as a result of any act or omission by the Company will, if and insofar
         as such taxation or other sums ought to have been paid prior to or on
         completion have been paid at or before completion.

                                      -15-
<PAGE>

(f)      The Company is not involved in any dispute with any revenue authorities
         concerning any matter likely to affect in any way the liability
         (whether accrued, contingent or future) of the Company to taxation or
         other sums imposed, charged, levied or payable under the provisions of
         any taxation statute.


6        TAX RETURNS

The Company has duly made all returns and given or delivered all notices,
accounts and information which on or before the date hereof ought to have been
made, given or delivered for the purposes of taxation and all such returns,
notices, accounts and information (and all other information supplied to the
relevant revenue or other fiscal authority concerned for any such purpose) have
to the best of the knowledge and belief of the Vendor after making due and
careful enquiries been correct and made on a proper basis and none of such
returns, notices, accounts or information is disputed in any material respect by
the fiscal authority concerned and there is no fact known to the Vendor after
making due and careful enquiries which might be the occasion of any such dispute
or of any claim for taxation in respect of any financial period.

7        EMPLOYEES


(a)      There are not in existence any contracts of service with employees of
         the Company, nor any consultancy agreements with the Company, which
         cannot be terminated by three (3) months' notice or less without giving
         rise to any claim for damages or compensation (other than a statutory
         redundancy payment or statutory compensation for unfair dismissal).

(b)      There is not in existence any contract of service with directors of the
         Company which cannot be terminated by thirty (30) days notice or less
         without giving rise to any claim for damages or compensation in excess
         of RM10,000/-.

(c)      Full particulars have been given in writing to the Purchaser of all
         existing contracts of service with employees of the Company and of all
         consultancy agreements with the Company.

(d)      There are no amounts owing to any present or former Directors or to
         members of the Company other than remuneration accrued due or for
         reimbursement of business expenses.


(e)      The Company has not made or agreed to make any payment to or provided
         or agreed to provide any benefit for any present or former director or
         employee which is not allowable as a deduction for the purposes of
         taxation.


(f)


         (i)      No liability has been incurred by the Company for breach of
                  any contract of service or for services, or for compensation
                  for wrongful dismissal or unfair dismissal; and


         (ii)     no gratuitous payment has been made or promised by the Company
                  in connection with the actual or proposed termination or
                  suspension of employment or variation of any contract of
                  employment of any present or former director or employee.

                                      -16-
<PAGE>


(g)      The Company has in relation to each of its employees (and so far as
         relevant to each of its former employees) complied in all material
         respects with all obligations imposed on it by all statutes,
         regulations and codes of conduct and practice relevant to the relations
         between it and its employees and has maintained current adequate and
         suitable records regarding the service of each of its employees.


(h)      The Company neither has in existence nor is proposing to introduce any
         share incentive scheme, share option scheme or profit sharing scheme
         for all or any part of its directors or employees.

(i)      All contributions due and payable by the Company to the Employees
         Provident Fund or to any scheme or fund established by law contribution
         to which by the Company is compulsory in respect of the employment of
         its employees have been paid.


8        PENSIONS


There are not in existence nor has any proposal been announced to establish any
retirement, death or disability benefit schemes for Directors or employees nor
are there any obligations to or in respect of present or former Directors or
employees with regard to retirement, death or disability pursuant to which the
Company is or may become liable to make payments and no pension or retirement or
sickness gratuity is currently being paid or has been promised by the Company to
or in respect of any former Director or former employee.


9        NO COMMISSION OR ADDITIONAL REMUNERATION SCHEME


There is not in existence any scheme, agreement or arrangement whereby a
Director or employee of the Company is remunerated or additionally remunerated
by way of commission or additional remuneration payable based on sales or
turnover of the Company.


10       DEBTS TO, CONTRACTS WITH, ETC. CONNECTED PERSONS


(a)      With the exception of the loans, debts and securities particulars of
         which have been disclosed in writing to the Purchaser and or which will
         have been discharged prior to Completion, there are:-

         (i)      no loans made by the Company to the Vendor and/or any director
                  of the Company and/or any person connected with any of them or
                  to any member of the Company;

         (ii)     no debts owing to the Company by the Vendor and/or any
                  Director of the Company and/or any such person as aforesaid or
                  by any member of the Company;

         (iii)    no debts owing by the Company other than debts which have
                  arisen in the ordinary course of business; and

         (iv)     no securities for any such loans or debts as aforesaid.

(b)      There are no existing contracts or engagements to which the Company is
         a party and in which any Director of the Company and/or any person
         connected with any of them as mentioned in sub-paragraph (a) above are
         interested.

                                      -17-
<PAGE>


11 CAPITAL COMMITMENTS, UNUSUAL CONTRACTS, GUARANTEES ETC.


(1)      The Company:

         (a)      does not have any material capital commitments;

         (b)      is not a party to any contract entered into otherwise than in
                  the ordinary and usual course of business or any contract of
                  an onerous or long-term nature;

         (c)      has not delegated any powers under a power of attorney which
                  remains in effect;

         (d)      has not by reason of any default by it in any of its
                  obligations become bound or liable to be called upon to repay
                  prematurely any loan capital or borrowed moneys;

         (e)      is not a party to any agreement which is or may become
                  terminable as a result of the entry into or completion of this
                  Agreement; or

         (f)      has not entered into or is bound by any guarantee or indemnity
                  under which any liability or contingent liability is
                  outstanding.


(2)      There are no  subsisting guarantees given by the Company in favour of
         the Vendor and the Vendor is not indebted to the Company.

12       BOOK DEBTS

(a)      None of the Company's book debts has been released in terms that any
         debtor pays less than the book value of his debt or has been written
         off.

(b)      Further, none of the Company's book debts which have been outstanding
         for more than nine (9) months from their due dates for payment and all
         such debts have realised or will realise in the normal course of
         collection their full value.

13       INSURANCE


All the assets of the Company which are of an insurable nature have at all
material times been and are at the date hereof insured in amounts reasonably
regarded as adequate against fire and other risks normally insured against by
companies carrying on similar businesses or owning property of a similar nature
and the Company has at all material times been and is at the date hereof
adequately covered against accident, third party and other risk normally covered
by insurance by such companies. The particulars of the insurances of the Company
which have been supplied to the Purchaser are true and correct. In respect of
all such insurances:-

(a)      all premiums have been duly paid to date; and

(b)      all the policies are in force and are not voidable on account of any
         act, omission or non-disclosure on the part of the insured party.

                                      -18-
<PAGE>


14       ASSETS

(a)      All assets of the Company and all debts due to it or have otherwise
         been represented as being the property of or due to the Company or used
         or held for the purposes of its business are the absolute property of
         the Company and (save for those subsequently disposed of or realised in
         the ordinary course of trading) all such assets and all assets and
         debts which have subsequently been acquired or arisen are now the
         absolute property of the Company and none is the subject of any
         assignment, option, right or pre-emption, covenant or restriction,
         mortgage, charge, lien or hypothecation or other encumbrance whatsoever
         (excepting only liens arising in the normal course of trading) or the
         subject of any factoring arrangement, hire-purchase, conditional sale
         or credit sale agreement and there are no circumstances under which by
         operation of law or otherwise the Company's title, right or interest in
         and to such asset may be adversely affected in any way whatsoever.

(b)      There are no outstanding notices served on the Company in respect of
         any of its assets and in particular and without limitation the
         Company's land is not subject to any acquisition proceedings or notice
         of intended acquisition.

(c)      Those of the properties which are occupied or otherwise used by the
         Company in connection with its businesses are so occupied or used by
         right of ownership or under lease or tenancy, and the terms of any such
         lease or tenancy permit such occupation or use.

(d)      All quit rent and assessment due and payable on the Company's land has
         been duly paid and all conditions affecting such land whether express
         or implied, have been duly complied with by the Company and the Company
         has not done or suffered to be done or omitted any act, matter or thing
         in or respecting its land which may render the same liable to
         forfeiture or which shall contravene the provision of any legislation
         now or hereafter in force affecting such land.


15       COMPLIANCE WITH LEASES AND OTHER AGREEMENTS


(a)      The terms of all leases, tenancies, licences, concessions and
         agreements of whatsoever nature to which the Company is a party have
         been duly complied with by all the parties thereto and the Vendor is
         not aware of any breaches of the terms thereof by the Company or any
         other party; and

(b)      no such lease, tenancy, licence, concession or agreement will become
         subject to avoidance, revocation or be otherwise affected upon or in
         consequence of the making or implementation of this Agreement.


16       STATUTORY, MUNICIPAL AND OTHER REQUIREMENTS, CONSENTS AND LICENCES


All statutory, municipal, regulatory and other requirements applicable to the
carrying on of the business of the Company as now carried on, and all conditions
applicable to the ownership of its assets and any licences and consents involved
in the ownership of its assets and the carrying on of such business have been
complied with and the Vendor is not aware of any breach thereof or of any
intended or contemplated refusal or revocation of any such licence or consent
and none of such

                                      -19-
<PAGE>

licences pioneer status or consents or any term thereof upon which it is held
will or may become subject to avoidance, revocation or be otherwise affected
upon or in consequence of the making or implementation of this Agreement.


17       BOOKS AND RECORDS


The records, statutory books and books of account of the Company are duly
entered up and maintained in accordance with all legal requirements applicable
thereto and contain true, full and accurate records of all matters required to
be dealt with therein and all such books and all records and documents
(including documents of title) which are its property are in its possession or
under its control and all accounts, documents and returns required to be
delivered or made to the Registrar of Companies Malaysia have been duly and
correctly delivered or made.


18       SHARE CAPITAL

(a)      The Company has a issued and paid up capital of 10,000 shares of RM0.01
         each and has not issued or agreed to issue any other shares.

(b)      No unissued shares of the Company are under option or agreed
         conditionally or unconditionally to be placed under option.


19       CONTINUATION OF FACILITIES


In relation to all debentures, acceptance credits, overdrafts, loans or other
financial facilities outstanding or available to the Company (referred to in
this clause as "facilities"):-

(a)      there has been no contravention of or non-compliance with any provision
         of any of the documents  relating to the facilities;

(b)      no steps for the early repayment of any indebtedness have been taken or
         threatened;

(c)      there have not been nor are there any circumstances known to the Vendor
         whereby the continuation of any of the facilities might be prejudiced,
         or which might give rise to any alteration in the terms and conditions
         of any of the facilities;

(d)      none of the facilities is dependent on the guarantee or indemnity of or
         any security provided by a third party;


(e)      the Vendor has no knowledge, information or belief that, as a result of
         the acquisition of the Shares by the Purchaser or any other thing
         contemplated in this Agreement, any of the facilities might be
         terminated or mature prior to its stated maturity.

20       SUBSIDIARIES AND ASSOCIATED COMPANIES


The Company has no subsidiaries or associated companies.


21       INVESTIGATIONS


                                      -20-
<PAGE>

There are not pending or in existence, any investigations or enquiries by, or on
behalf of, any governmental or other body in respect of the affairs of the
Company.


22       DIVIDENDS


All dividends or distributions declared, made or paid by the Company have been
declared, made or paid in accordance with its Articles of Association and the
applicable provisions of the Companies Act 1965.

                                      -21-
<PAGE>


AS WITNESS the hands of the representatives of the Vendor and the Purchaser the
day and year first abovewritten.

Vendor

SIGNED by                           )
for and on behalf of TECHNOCHANNEL  )
TECHNOLOGIES SDN. BHD.              )
(Company No. 426318-M)              )
in the presence of:-                )
















Purchaser

SIGNED for and on behalf of         )
MYWEB TECHNOLOGIES LTD              )
by                                  )
                                    )
in the presence of:-                )



                                      -22-