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Asdion Confident Of Improving This Year With Thai Unit

24-02-2005

25 February 2005 - INTEGRATED software provider Asdion Bhd (AB) is confident of improving its performance this year, particularly with the setting up of a subsidiary in Thailand.

Group managing director Yap Tai Tee said Asdion (Thailand) Co Ltd (ATH) is a 51% owned subsidiary via Asdion International Sdn Bhd, a wholly-owned subsidiary of AB, with a paid-up capital of RM500,000.

"The Thailand market is very promising because of its service-oriented economy (and) there is a strong demand to automate business processes," he told reporters after announcing the setting up of ATH in Kuala Lumpur on Wednesday.

Yap said the subsidiary's first project, Ticketlink, an end-to-end cinema ticket reservations system, is set to be completed within two weeks and would generate a turnover of roughly 5mil baht for the first year.

"ATH will launch the iTour travel management system next month. It is a comprehensive solution for travel agencies that includes a Web portal,
features for bookings of air tickets, and hotel and tour packages," he said.

"We have already established working relationships with major global travel distribution systems such as Galileo, Amadeus, Abacus and Worldspan, and have expressed a keen interest to work with us," he added.

Yap said besides the travel distribution systems, AB could tap into more than 2,000 travel agencies and related to this, it is enhancing its solution into a one-stop hotel management system.

"It will cover everything from energy management, security to property management," he said, adding that other offerings under the ATH portfolio include project management and information technology (IT) consultancy services, IT outsourcing services, healthcare payment management systems and membership management systems.

The setting up of a Thai subsidiary is the first step under the company's expansion plans following its listing on the Mesdaq market last month, Yap said.

"We will disclose another expansion move during the second quarter of this year. Currently, it is still at the final stage," he said, adding that AB's area of focus was mainly the Asia-Pacific region.


Source: http://biz.thestar.com.my/news/story.asp?file=
/2005/2/25/business/10246651&sec=business