October, 2003
Kuala Lumpur, October 2003 - eBworx Berhad (eBworx), a home-grown regional financial solutions specialist, has received approval from the Securities Commission (SC) and the Kuala Lumpur Stock Exchange (KLSE) to list on the MESDAQ market on the KLSE.
The eBworx Group provides a wide array of innovative software applications to the financial services industry. eBworx 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.
"The flotation is a major milestone for eBworx. With additional funds from the flotation exercise, we plan to expand our R&D operations to further strengthen our solutions which are proven to be viable and practical in the local and international financial arena," said Tan Suan Fong, Chief Executive Officer of eBworx.
"By being more than a software vendor, eBworx's in-depth domain and established reference sites with its banking clients help it gain access to crucial banking industry practices," he added.
Tan said eBworx also intends to expand its customer base by pursuing markets in North Asia, Middle East and Eastern Europe through strategic alliances and acquisitions.
eBworx has two wholly-owned subsidiaries – Digital Nervous System Sdn Bhd (DNS) and eBworx International Pte Ltd (EBI).
DNS is incorporated in Malaysia while EBI is incorporated in Singapore. The companies' principal activity is the provision of computer software applications and dealing in computer software and hardware for the financial services industry.
The institutional shareholders of eBworx are OSK Venture Equities Sdn Bhd, a venture capital company of OSK Holdings Berhad and CSE Global Limited, which is listed on the Main Board of the Singapore Exchange.
Within a short span of 5 years, eBworx has set up offices in Singapore, Thailand and Taiwan. It has also established business partners in the Philippines, Indonesia and China.
eBworx has a regional clientele base which includes UOB, Keppel Insurance, Lippo Bank, Bank Central Asia, Bank Danamon, Equitable PCI Bank, Rizal Commercial Banking Corporation, Security Bank, AmBank Group and Aetna Universal Insurance.
eBworx is scheduled to be listed on the MESDAQ Market of the KLSE sometime in the fourth quarter of this year. eBworx’s flotation exercise will be led by OSK Securities Berhad, which acts as both Advisor and Lead Manager.
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