Netopia, CyBr Internet cafes get P200-M loan from HSBC

In a statement to the Philippine Stock Exchange, IP E-Game said the loan will be backed by a guarantee from state-operated Trade and Investment Development Corp. or the Philippine Export-Import Credit Agency. Digital Paradise is the operator of Netopia internet cafe "The proceeds of the loan shall be used for the expansion and development of Digital Paradise's internet cafe chain," the company said. In a bid to expand its online gaming user base, IP E-Game acquired Netopia in April last year. Netopia is the largest and most prominent brand of i-cafes, and CyBr, another leading i-cafe brand that caters to the online gaming community. The consolidation of these Internet cafes gives IP E-Game a total of about 130 branches strategically located around the Philippines. The company seeks to grow this number by four times in the next three to five years. -- CMA/OMG, GMA News