-8008: Error while trying to initialize database

I'm trying to write an ASP .Net web application to connect to SBO 2004 database using DI API 6.7. Below is the code segment to connect to database:

Private Function SBO_connect()

dim oCompany as New SAPbobsCOM.Company

oCompany.CompanyDB = "SBODemo_SG"

oCompany.Server = "win2k1"

oCompany.UserName = "manager"

oCompany.Password = "manager"

oCompany.language = SAPbobsCOM.BoSuppLangs.ln_English

return oCompany.connect()

End Function

But I get this message when I tried to run it:

-8008: Error while trying to initialize database

I have also tried to use DbUserName and DbPassword, it gave me the same output. I have assign administrator right to ASPNET user. What else can I do? Thanks for any advice.