|
KUALA LUMPUR, 28 February 2005 – eBworx Bhd, which
was listed slightly more than a year ago, remains one
of the more dynamic MESDAQ-listed companies.
Having achieved another creditable
performance in 2004, the company intends to move on
to a higher level and has set new targets for 2005.
New Projects
Already the year has gotten off to a good start with
the signing of two new contracts for a local bank and
foreign bank. The RHB Bank project is to implement eBworx’s
Digital Credit Management System – Collection
and Recovery Module. This module tracks and streamlines
the process of the overdue loan account collection.
The project duration is 10 months.
The other contract is for PT Bank Permata,
Indonesia to implement eBworx’s Digital Cash Management
System. This is to allow the bank’s corporate
and SME customers to perform commercial transactions
via the Internet. The project duration is eight months.
This is eBworx’s second project with Bank Permata.
The earlier project in May last year was to implement
eBworx’s flagship Digital Credit Management System.
New Executive Office
To inject more dynamism, eBworx has set up a new executive
team with strong credentials. It will be headed by co-founder
and Chief Executive Officer Tan Suan Fong. New appointments
include K.K. Chen as Deputy Chief Executive Officer.
Chen has 25 years experience in the software and service
industry. He started as system engineer in IBM, general
manager for Computer Associates Malaysia and President
of Silverlake.
The new Technology and Delivery Director
is Bronnie Tse, who has broad experience in technology,
project operation, professional service and marketing
at ICL, Cable & Wireless HKT.
The Global Sales and Marketing Director
is Steve Kucia from UK. He has vast experience in sales
and management as Managing Director of Unisys HK and
Managing Director of digital commerce consulting firm
Headstrong Asia.
New Products
eBworx has developed several new products, two of which
will be launched this year. The Digital Credit Risk
management System Version 1 is one of the modular software
applications of eBworx’s Digital Business Center
Suite. It provides complex mathematical models to banks
to simulate the credit risk before approving a loan.
This new product has great potential since most of the
banks are required to comply with the Basel II requirements
by 2007.
The other new product is TradeSpring
Version 1, developed by 50%-owned associate SpringWorx
Technovations Sdn Bhd. This is a new generation of Web-based
Trade Finance solution empowered with flexible workflow
and configurable business rule engine.
Thrust for 2005
The target is to bring in RM56 million
new orders in 2005. The eBworx Group will continue its
focus on South East Asia and will hire sales personnel
in Indonesia, Thailand and Singapore to tap the market.
With the implementation of eBworx’s
DCMS in Hua Xia Bank, is confident of garnering more
contracts in China and has assembled a business development
team in Beijing.
Key business initiatives include building
a Software Engineering Center in China to service the
large market in China and to tap the large talent pool
in China for R&D.
eBworx will also build a Loan Processing
Center to help banks in this region to process consumer
loans and credit cards.
Industry Recognition
The most recent award received by eBworx was BEA Significant
Platform Win of 2005. BEA is the world leading J2EE
application server provider while eBworx’s products
are built on industrial standard J2EE platform.
In addition to that, International
Data Corporation (IDC) has also identified eBworx as
one of the Leading Financial Software Providers in this
region for 2004. This is the second recognition from
IDC. The first recognition was in 2001 whereby eBworx
is reported by IDC as the Software Hero of Malaysia.
About eBworx
eBworx is a home-grown regional financial solutions
specialist, providing a wide array of innovative digital
commerce solutions to the financial services industry
which include software products, technology consulting
and systems integration services that enable financial
institutions to improve their sales operational efficiency
and manage credit risk.
It was granted MSC status on 11 February
2002. In 2001, the eBworx Group was given due recognition
by Microsoft (Malaysia) Sdn Bhd by being conferred the
Microsoft Partners Award for “E-Commerce Solution
of the Year” in Malaysia. In the same year, IDC
Market Research (M) Sdn Bhd identified the eBworx Group
as the “Local Software Heroes in Malaysia”
for being a significant software company in Malaysia.
It has three wholly-owned subsidiaries
– Digital Nervous System Sdn Bhd (DNS),
incorporated in Malaysia, eBworx International
Pte Ltd (EBI), incorporated in Singapore and
eBworx Technology (Beijing) Co Ltd,
incorporated in China. The principal activity of all
three companies is the provision of computer software
applications and dealing in computer software and hardware
for the financial services industry.
Institutional Investors
eBworx’s institutional investors include OSK Venture
Equities Sdn Bhd, a venture capital company of OSK Ventures
International Berhad and CSE-Infotech Limited, a wholly-owned
subsidiary of CSE Global Limited, which is listed on
the Main Board of the Singapore Exchange.
|
