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Award Of Contract To Implement A Digital Credit Management System For Krung Thai Computer Services Co. Ltd By Hewlett Packard (Thailand) Ltd
| The Board of Directors of CSE wishes to announce that its associated company, eBworx Berhad, has entered into an agreement with Hewlett-Packard (Thailand) Ltd to implement the Digital Credit Management System ("DCMS") for Krung Thai Bank Public Company Limited, Thailand through its subsidiary Krung Thai Computer Services Co. Ltd for a total consideration of USD1.274 million (S$2.191 million).
DCMS is a credit management system that enables KTB to automate and streamline its loan application processing and thereafter to monitor and manage these loans. The project is expected to be completed within nine (9) months commencing November 2003. The project is expected to contribute positively towards the earnings of eBworx for both the financial years ending 31 December 2003 and 2004. CSE currently owns 37.9% of eBworx Berhad. None of the Directors and substantial shareholders of CSE or any persons connected to them have any interest, direct or indirect, in the above contract. The eBworx Group, based in Malaysia, provides a wide array of innovative digital commerce solutions to the financial services industry. eBworx was granted MSC status on 11 February 2002. It has a regional clientele which includes Affin Bank Berhad, AmBank Group, ING Insurance Berhad, OCBC Bank (Malaysia) Berhad, Southern Bank Berhad, United Overseas Bank (Malaysia) Berhad, P.T. Bank Central AsiaTbk, P T Bank Danamon Indonesia Tbk, P T Bank Lippo, Keppel Insurance Pte Ltd, Oversea-Chinese Banking Corporation Limited, Kasikornbank Public Company Limited and Krung Thai Bank PCL. |
| Published: Monday, 8 December 2003 |
| Publication: SGX |
