Press Releases

October 28, 2004

eBworx Awarded Contract from Thai Finance Company

Contract to Implement DCMS for Capital OK Company Limited, Thailand

Kuala Lumpur, 28 October 2004 - eBworx Berhad has made further inroads into the Thai financial arena with the award of a contract to implement its flagship Digital Credit Management System (DCMS) for Capital OK Company Limited, Thailand.

The contract involves the licensing and implementation of the DCMS – Consumer Loan and Credit Card module -- which will be utilized by Capital OK’s consumer finance services.

The project which is expected to be completed within six months will contribute positively towards the earnings of eBworx.

Capital OK is a joint venture formed by Shin Corp Public Company Limited (Shin Corp) and DBS Singapore (DBS) to undertake consumer finance business in Thailand.

The paid-up capital of Capital OK is one billion Baht of which Shin Corp holds 60 per cent while DBS holds the remaining 40 percent. The lending business involves principally the provision of personal loan to consumers in the form of credit cards, hire purchase and unsecured personal loans.

DCMS is one of the modular software applications of eBworx’s Digital Business Center Suite. It is designed to provide a comprehensive loan application workflow and tracking system for banking organizations to streamline the loan originating process.

The software application comes with a built-in intelligent workflow and credit risk engine. DCMS assists banks to improve loan processing efficiency, control credit risk and track loan performance portfolio. It will also assist banks to move towards Basel II compliant.

“Capital OK is the third Thai financial institution which has chosen to use eBworx’s products. The other two are Krung Thai Bank Public Company Limited and Kasikornbank Public Company Limited,” said Mr Tan Suan Fong, Chief Executive Officer of eBworx.

“With two well-known banks and now a consumer finance company putting their votes of confidence in eBworx’s products, we are confident of making further inroads in the financial sector of Thailand,” he added.

eBworx’s DCMS has been successfully implemented in United Overseas Bank (Malaysia) Bhd, Ambank Group in Malaysia, Southern Bank Bhd, Bank Central Asia, PT Bank International and PT Bank Permata in Indonesia, Kasikornbank Public Company Limited and Krung Thai Bank Public Company Limited in Thailand and Hua Xia Bank in China.