Pioneer Global Group Limited (PGG) (formerly known as Pioneer Industries International (Holdings) Limited (stock code: 224)) has announced a name change at a special general meeting today.

PGG managing director Kenneth Gaw said, "The name change better reflects a new business focus of the group from traditional real estate and financial investment to the technology sector."

In May 2000, the group concluded a deal with Morgan Stanley Real Estate Funds to form a joint venture named Global Gateway to invest in TeleSites (also known as Carrier Hotels) in Asia Pacific. Other IT initiatives include e-commerce on logistic arrangement, Internet mapping services and other supply chain management solutions.