June 02, 2004
02 June 2004 - Financial solutions provider eBworx Bhd is bidding for projects worth a total of RM120mil in the North Asia and South-East Asia region, said chief executive officer Tan Suan Fong.
The projects it had tendered for included six projects in China for its credit management system each valued between US$1mil and US$2mil, Tan told reporters at the company's AGM in Petaling Jaya yesterday.
Tan declined to comment on how confident eBworx was in clinching these projects but said: “We've had a good record in the past three years competing against vendors from the United States, Europe and India. Our success rate so far has been rather good.”
eBworx currently had RM35mil worth of projects in hand, which should keep it busy over the next 12 months, he said. “About 80% of these projects are foreign contracts. This gives a clear message that we're not just a Malaysian company, but a regional player,” he added.
The company had in the past 10 months been actively pursuing the North Asian market, such as Hong Kong, Taiwan and China.
Tan said the results had been encouraging, including the RM6.23mil deal with China's eighth largest bank, Hua Xia Bank, sealed recently.
“We will continue to put in more efforts in roadshows and in building up partnerships and distributorships. We believe that in the next 6-12 months, we'll be landing more contracts, particularly in China,” he said.
Tan said, with China in the World Trade Organisation, its banking sector was going through massive restructuring to streamline processes to international standards. Chinese banks were eager to see how banks in other countries around the region handle credit risks.
“We've many successful reference sites in South-East Asia. Our solutions are not just putting in a software, but the experience of how other banks handle credit risk to lower non-performing loans,” he said.
Source: The Edge Daily
eBworx : More Overseas Jobs in Pipeline
02 June 2004 - Financial solutions provider eBworx Bhd expects to secure more jobs in China after clinching a RM6.23 million contract to implement its digital credit management system (DCMS) at the country’s Hua Xia Bank.
The company was tendering for six other DCMS projects worth about US$8 million (RM30.4 million) in China, said its chief executive officer Tan Suan Fong.
“We believe in the next six to 12 months we would land more contracts, particularly in China,” Tan said after the company’s AGM in Petaling Jaya on June 1.
“China’s banks are going through massive restructuring and they are looking at ways to improve their banking processes to an international standard,” he said.
He said eBworx was also partnering the likes of Hewlett Packard, IBM and BEA Systems Inc to source for projects in Korea, Japan and Taiwan. He added that by next year the company hoped to clinch a few deals in those countries. About 80% of the RM35 million contracts that eBworx has in hand involve overseas projects.
“It is a very clear message that we are not just a Malaysia player. We are a regional player, mainly in North Asia and Southeast Asia,” he said.
Tan said eBworx was currently bidding for contracts worth RM120 million in the two regions for its DCMS and digital delivery channel suite solutions.
He also said the company would be introducing a new product this year to cater for international financial institutions gearing up for Basel II compliance by 2006.
Locally, Tan said the company was in talks to sell its solutions to Malayan Banking Bhd. He said financial institutions such as United Overseas Bank (Malaysia) Bhd, AmBank Bhd and ING Insurance Bhd were among its current clients.
Source: The Star
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