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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
(AMENDMENT NO. ____)(1)
PacificNet.com, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
69511V 10 8
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(CUSIP Number)
APP China Group Limited
118 Pioneer Road
Singapore 639598
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 28, 2000
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(Date of Event which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check
the following box: / /
NOTE. Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. SEE Rule 13d-7 for other
parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 9 Pages)
---------------------
(1) The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, SEE the
NOTES).
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CUSIP No. 69511V 10 8 13D Page 2 of 9 Pages
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<S> <C>
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NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
APP China Group Limited
-------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a) /X/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
OO
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
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7 SOLE VOTING POWER
0
----- -----------------------------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 603,472
OWNED BY ----- -----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- -----------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
603,472
-------------------------- ----- -----------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
603,472
-------- -----------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.8%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 69511V 10 8 13D Page 3 of 9 Pages
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NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Asia Pulp & Paper Company Ltd
-------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a) /X/
(b) / /
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3 SEC USE ONLY
-------- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / /
-------- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Republic of Singapore
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7 SOLE VOTING POWER
0
----- -----------------------------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 603,472
OWNED BY ----- -----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- -----------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
603,472
-------------------------- ----- -----------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
603,472
-------- -----------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
-------- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.8%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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Item 1. Security and Issuer
This statement relates to the common stock (the "Common Stock") of
PacificNet.com, Inc. f/k/a Creative Master International, Inc. (the "Company"),
a Delaware corporation, with its principal executive offices at Casey Industrial
Building, 8th Floor, 18 Bedford Road, Taikoktsui, Kowloon, Hong Kong.
Item 2. Identity and Background
This statement is being filed by (1) APP China Group Limited, a
corporation organized and existing under the laws of Bermuda, with its principal
executive and business offices at 118 Pioneer Road, Singapore 639598, and (2)
Asia Pulp & Paper Company Ltd, a corporation organized and existing under the
laws of the Republic of Singapore, with its principal executive and business
offices at 118 Pioneer Road, Singapore 639598 (collectively, the "reporting
persons"). APP China Group Limited is an investment holding company wholly owned
by Asia Pulp & Paper Company Ltd.
The attached Schedule I is a list of the executive officers and directors
of the reporting persons, persons that may be deemed to be controlling persons
of the reporting persons and each executive officer and director of any
corporation or other person ultimately in control of the reporting persons,
which contains the following information with respect to each person listed on
such schedule:
- name and representative through which it acts, if any;
- residence address or principal business address and, if different,
address of principal office;
- principal business or present principal occupation or employment
and, if applicable, the name, principal business and address of
any corporation or other organization in which such employment is
conducted; and
- citizenship or place of organization.
During the past five years, neither of the reporting persons nor, to the
best of the reporting persons' knowledge, any person named on Schedule I has
been convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
During the past five years, neither of the reporting persons nor, to the
best of the reporting persons' knowledge, any person named on Schedule I has
been a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction as a result of which it was or is subject to a judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to, United States Federal or state securities laws
or finding any violation with respect to such laws.
(Page 4 of 9 Pages)
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Item 3. Source and Amount of Funds or Other Consideration
Upon the completion of the PacificNet ("PNC") acquisition of the Company
on July 28, 2000 (the "Closing"), (1) the owners of PNC, including but not
limited to the APP China Group Limited (collectively, the "PNC Members"),
surrendered and assigned to the Company all membership interests in PNC
("Membership Interests") issued and outstanding immediately prior to the Closing
and (2) the Company issued to the PNC Members, pro rata in accordance with their
relative ownership of Membership Interests, an aggregate of 7,166,666 shares of
Common Stock. As a result of this exchange, PNC became a wholly-owned subsidiary
of the Company and the PNC Members became the principal stockholders of the
Company, holding in excess of 80% of the Common Stock outstanding immediately
following the Closing.
Following the Closing, the Company's primary business focus will be PNC's
business-to-business electronic commerce services and solutions. Although the
Company's business of manufacturing collectible-quality, die-cast replicas of
cars, trucks, buses and other items will continue for an indefinite period, PNC
has indicated its interest in disposing of such business.
The PNC acquisition was conditioned upon, among other things, the Company
receiving resignations from all but one of its directors at the Closing.
Following the Closing, the Board of Directors of the Company will be increased
to eight members and seven directors designated by PNC will be appointed to the
Board of Directors.
The PNC acquisition was also conditioned upon the Company amending its
Certificate of Incorporation to increase the number of authorized shares of
Common Stock from 25,000,000 to 125,000,000.
Item 4. Purpose of Transaction
Other than as described in Item 3, neither the reporting persons nor any
person named on Schedule I hereto has plans or proposals which would result in
or relate to (a) the acquisition by any person of additional securities of the
issuer, or the disposition of securities of the issuer; (b) an extraordinary
corporate transaction, such as a merger, reorganization or liquidation,
involving the issuer or any of its subsidiaries; (c) a sale or transfer of a
material amount of assets of the issuer or of any of its subsidiaries; (d) any
change in the present board of directors or management of the issuer, including
any plans or proposals to change the number or term of directors or to fill any
existing vacancies on the board; (e) any material change in the present
capitalization or dividend policy of the issuer; (f) any other material change
in the issuer's business or corporate structure, including by not limited to, if
the issuer is a registered closed-end investment company, any plans or proposals
to make any changes in its investment policy for which a vote is required by
Section 13 of the Investment Company Act of 1940; (g) changes in the issuer's
charter, bylaws or instruments corresponding thereto or other actions which may
impede the acquisition of control of the issuer by any person; (h) causing a
class of securities of the issuer to be delisted from a national securities
exchange or to cease to be authorized to be quoted in an inter-dealer quotation
system of a registered national securities association; (i) a class of equity
securities of the issuer becoming eligible for termination of registration
pursuant to Section 12 (g)(4) of the Act; or (j) any action similar to any of
those enumerated above.
(Page 5 of 9 Pages)
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Item 5. Interest in Securities of the Issuer
(a) As of the date hereof, APP China Group Limited directly beneficially
owned 603,472 shares of Common Stock, representing 6.8% of the class.
As of the date hereof, Asia Pulp & Paper Company Ltd indirectly
beneficially owned 603,472 shares of Common Stock, representing 6.8% of
the class, due to its 100% ownership of APP China Group Limited. As of
the date hereof, none of the persons named on Schedule I beneficially
owned shares of Common Stock.
(b) Each reporting person has shared power to vote and to dispose of
603,472 shares of Common Stock with the other reporting person.
(c) Other than as described in Item 3, neither of the reporting persons nor
any person named in Schedule I effected any transactions in the
Company's Common Stock during the past 60 days.
(d) The reporting persons know of no other person who has the right to
receive or the power to direct the receipt of dividends from, or the
proceeds from the sale of, the securities reported herein.
(e) The reporting persons are the beneficial owner of more than five
percent of the class.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
to Securities of the Issuer.
No contracts, arrangements, understandings or relationships (legal or
otherwise) exist among the persons named in Item 2 and between such persons and
any person with respect to any securities of the Company, including but not
limited to transfer or voting of any of the securities, finder's fees, joint
ventures, loan or option arrangements, puts or calls, guarantees of profits,
division of profits or loss, or the giving or withholding of proxies.
Item 7. Material to be filed as Exhibits
1) The Share Exchange Agreement, dated as of February 17, 2000, by and
between Creative Master International, Inc. and Tony Tong, Wan Sang Hui,
Lee Li, James Mullen, John Farrell, Paul Poung - Hwa Chow, Fung Oi Ip
Alfonso, Oei Hong Leong, Fortune E-Commerce Limited, B2B Limited, the
owner of PacificNet.com, LLC and PNC.
2) The Supplement to the Share Exchange Agreement, dated as of April 29,
2000, among Creative Master International, Inc., PacificNet.com, LLC,
and the members of PNC and other persons and entities listed on the
signature pages thereto.
(Page 6 of 9 Pages)
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SCHEDULE I
The name, business address, principal occupation or employment and
citizenship of each Executive Officer, Director, Controlling Persons and
Executive Officers and Directors of any person ultimately in control of the
reporting persons is set forth below:
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NAME AND REPRESENTATIVE RESIDENCE ADDRESS OR PRINCIPAL BUSINESS OR CITIZENSHIP OR PLACE OF
THROUGH WHICH IT ACTS PRINCIPAL BUSINESS ADDRESS PRESENT PRINCIPAL ORGANIZATION
AND IF DIFFERENT, ADDRESS OCCUPATION OR EMPLOYMENT
OF PRINCIPAL OFFICE AND IF APPLICABLE, THE
NAME, PRINCIPAL BUSINESS
AND ADDRESS OF ANY
CORPORATION OR OTHER
ORGANIZATION IN WHICH SUCH
EMPLOYMENT IS CONDUCTED
------------------------------- ---------------------------- ---------------------------- ----------------------------
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Suresh Kilam 61 Grange Road, Director Indonesia
#21-04 Chairman
Beverly Hill Tower
Singapore 249570
------------------------------- ---------------------------- ---------------------------- ----------------------------
Ng King Sau Block 11 Director
1/F Kambridge Vice Chairman China
Garden,
Razor Hill Road,
Clear Water Bay,
KLN, Hong Kong
------------------------------- ---------------------------- ---------------------------- ----------------------------
Chuang Kuo-Sheng No. 30 Lot 2255 Director Taiwan
Longdong Street,
Pudong, Shanghai
201203
------------------------------- ---------------------------- ---------------------------- ----------------------------
Tang Tak Wing, Flat A, 15/F Director British National
Elbert 6 Glee Path Stage III, (Overseas)
Mei Foo Sun Chuen,
Lai Chi Kok
Kowloon, Hong Kong
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(Page 7 of 9 Pages)
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------------------------------- ---------------------------- ---------------------------- ----------------------------
Oef Tjie Goan 6 Orange Grove Road, Executive Director of Indonesia /
#12-00, Singapore Asia Pulp & Paper Singapore PR
258331 Company Ltd
------------------------------- ---------------------------- ---------------------------- ----------------------------
Oei Jong Nian 9 Rhu Cross #03-10 Executive Director of Indonesia /
@Oesman Widjaja Singapore 437436 Asia Pulp & Paper Singapore PR
Company Ltd
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Oei Siong Lian 22 Cluny Park, Executive Director of Indonesia /
@Muktar Widjaja Singapore 259627 Asia Pulp & Paper Singapore PR
Company Ltd
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Kunihiko Naito Casablanca Apts, Director of Asia Pulp Japan
Tower I, #15-03, Jalan & Paper Company Ltd
Casablanca Kav. 12,
Jakarta, Indonesia
------------------------------- ---------------------------- ---------------------------- ----------------------------
Kenichi Oshitani Menarabudi Director of Asia Pulp Japan
Apartment #1609, JL & Paper Company Ltd
Haji Cokong,
Setiabudi, Jakarta
12940, Indonesia
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Hendrik Tee 9 Rhu Cross, #04-10 Executive Director of Indonesia /
Costa Rhu, Singapore Asia Pulp & Paper Singapore PR
437436 Company Ltd
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Augusto F. Nilo Greenview Executive Director of United States
Apartment, B101, Asia Pulp & Paper
Sekolah Kencana 4, Company Ltd
Pondok Indah, Jakarta
Selatan, Indonesia
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(Page 8 of 9 Pages)
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
August 7, 2000 APP China Group Limited
By: /s/ Ng King Sau
---------------------------------
Name: Ng King Sau
---------------------------------
Its: Director
---------------------------------
August 7, 2000 Asia Pulp & Paper Company Ltd
By: /s/ Hendrick Tee
---------------------------------
Name: Hendrick Tee
---------------------------------
Its: Executive Director
---------------------------------
(Page 9 of 9 Pages)
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EXHIBIT INDEX
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EXHIBIT
NUMBER DESCRIPTION
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1 The Share Exchange Agreement, dated as of February 17, 2000,
by and between Creative Master International, Inc. and Tony
Tong, Wan Sang Hui, Lee Li, James Mullen, John Farrell, Paul
Poung - Hwa Chow, Fung Oi Ip Alfonso, Oei Hong Leong,
Fortune E-Commerce Limited, B2B Limited, the owner of
PacificNet.com, LLC and PNC.
2 The Supplement to the Share Exchange Agreement dated as of
April 29, 2000, among Creative Master International, Inc.,
PacificNet.com, LLC, and the members of PNC and other
persons and entities listed on the signature pages thereto.
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