SINGAPORE--As the world moves toward a global networked economy powered by information technology, everyone agrees that we are in the midst of an e-business revolution requiring new business models anchored on the Internet. To succeed and even take the lead in this ongoing revolution, however, does Asia need to develop Asian e-business models?

''Do I think that Asia needs to develop Asia e-business models, or do I think that this is what will happen? I think it's the latter," said Tom Kendra, IBM Asia Pacific Service Corp.'s vice president for Software. ''If we look at what's happening in the region, we see, for example, individual banks coming up with distinctive solutions for their customers. In effect, they are developing new kinds of business models. Rediff (www.rediff.com) and Walah (www.walah.com.my) -- these are locally developed business models."

Kendra was the keynote speaker at e-Universe 99, a regional e-business technology symposium of which IBM Corp. was the major sponsor. He highlighted the need for ''brick'' or traditional companies to learn from ''click'' or entirely web-based companies to learn from each other. He said that one thing Amazon.com's woes show is that relying solely on the web would not guarantee a company's success. The much hyped online bookstore, together with e-commerce success story, is set to lose $700 million for the next two years.

''Click firms now realize that they need a solid foundation. Just because you have a new business model doesn't mean the old one is necessarily bad," he noted. ''What happens to click firms is that, as they grow, availability of services becomes an issue. Also, if they know some item is out of stock, how do they communicate this to the customer? These are some of the things brick companies have become very good at, and click firms can learn from them."

In his presentation titled "Succeed In a Networked Economy," IBM Asean/South Asia executive for software and e-business Joaquin Quintos IV stressed that e-business is alive and well in the region. Echoing Kendra, he cited the success that Asian e-business sites like Rediff on the Net and Walah now enjoy.

The most successful Indian portal to date, Rediff on the Net offers true business-to-consumer (B2C) electronic commerce transactions. Apart from the usual books and CD-ROMs, Rediff allows Internet users to buy online such items as scented candles, herbal products and Indian sweets. Moreover, the site uses the Internet to reach out to the large Indian expatriate community, drawing more than 60 percent of its customers from outside India.

Meanwhile, Malaysian site Walah takes to heart its declaration that ''Life is a series of events!" Leveraging on the lively local business and cultural scene, the site allows visitors to access the latest information about events across Malaysia and on the Internet. Users can then add these extensive databases to a personalized online calendar to keep track of events while managing their schedules.

From his native country, Quintos cited Philippine food and beverage giant San Miguel Corp. Though one of the country's oldest firms, San Miguel has pioneered in setting up B2C credit card transactions over the web in the Philippines. San Miguel Draft Online (http://draft.sanmiguelbeer.com) not only allows surfers to quench their beer thirst by ordering online, but also offers party organizer packages and an online community for the legions of San Miguel drinkers.

Of course, the list of e-business sites in the Philippines is not limited to the IBM partners cited at e-Universe. DFNN.Com (www.dfnn.com), which won the Intel E-Commerce Web Site of the Year recently at the Philippine Webby Awards, offers the country's first online stock trading service. Meanwhile, the Ayala Group of Companies offers products and services from its diverse businesses at www.ayalaecenter.com.

While saying that it is difficult to speak of what Asian e-business models would be, Kendra admitted that success in Asia means more than just replicating the models that have worked for US-based e-businesses.