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| Subject: Triumphant Launch contriolled Ecard/(Quicklink privately owned).Singapore ERG Motorola alliance | |
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Author: anonymous |
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Date Posted: 19:02:16 11/08/02 Fri In reply to: anonymous 's message, "Re: Triumphant Launch SDN BHD Proton America's PWI controlled entities from the 15/3/2002." on 04:22:34 11/05/02 Tue http://www.erg.com.au/invst_relations/reports/annrept/2002_financials.pdf ------------------------------------------------------------ Wholly Owned Group The wholly owned group consists of ERG Limited and its wholly owned controlled entities: ERG Management Services Ltd, ERGShare Plan Pty Ltd, ERG Property Pty Ltd, ERG Telecommunications Pty Ltd, ERG Holdings Ltd, ERG Transit Systems (HK) Limited,ERG IP Pty Ltd, ERG R&D Pty Ltd, ERG Transit Systems (Eur) NV, ERG Transit Systems (Fra) SA, ERG Card Systems Ltd, ERG CardSystems (Aust) Ltd, ERG Transit Systems Ltd, ERG Transit Systems (Scand) AB, ERG Transit Systems (UK) Ltd, ERG Transit Systems (Sing) Pte Ltd, ERG Transit Systems (USA) Inc, ERG Transit Systems (Ger) GmbH, Proton World International SA, Proton World Americas Inc,Triumphant Launch Sdn Bhd and Integrated Transit Solutions (Sing) Pte Ltd. Ownership interests are set out in note 44. ------------------------------------------------------------ http://www.motorola.com/LMPS/pressreleases/CGISS9925B.html ------------------------------------------------------------ ERG/Motorola Alliance Wins Contract To Supply Smart Card System for Singapore Public Transit Network ------------------------------------------------------------ SINGAPORE -- ERG Limited and Motorola’s Worldwide Smartcard Solutions Division (WSSD) have been awarded a US $78 million contract to supply an integrated smart card fare collection system for the public transport network of Singapore. The Land Transport Authority of Singapore awarded the contract for the Enhanced Integrated Fare System to the ERG/Motorola alliance following an extensive international tendering process over the past seven months. ------------------------------------------------------------ Five public transport operators will use the System, which includes approximately 3,750 buses as well as mass rapid transit (MRT) and light rapid transit (LRT) operations. The system will involve a total of 22,000 readers and an initial 5 million smart cards, making the Singapore system one of the largest integrated smart card based transit systems in the world. ------------------------------------------------------------ Additionally, the contract provides for the alliance to deliver the infrastructure for smart card and back office operations. The back end system will be based on ERG’s proven, highly automated and sophisticated central clearinghouse and data processing network. Motorola also will provide customized support services, including systems integration and maintenance. ------------------------------------------------------------ When fully commissioned in 2002, Singapore’s travelling public will load money onto the smart card and then flash the card in front of a card reader, which deducts the appropriate fare. The system also supports a reload facility whereby the cards can be reloaded directly from the cardholder’s bank account when the balance runs low. ------------------------------------------------------------ The System will be designed so that further smart card applications can be added to the initial transit application. In the future, the system could also integrate electronic cash payments and other non-financial applications. There will also be an interface with the existing NETS cash smart card scheme. ------------------------------------------------------------ The ERG/Motorola alliance bid for the project as a consortium that also involves key local Singaporean companies, including Singaporean Technologies Computer Systems, Keppel Engineering and Knowledge Engineering, to help carry out the work. ------------------------------------------------------------ "Together with Motorola and our key subcontractors we will expand our already proven smart card technology architecture to deliver Singapore the most advanced transit solution currently available," said Peter Fogarty, ERG’s Chief Executive Officer. "The transit authorities in Singapore have always been considered market leaders and their decision to choose our technology is a great endorsement. The ERG/Motorola Alliance intends establishing a smart card center of excellence in Singapore to support this project, and to promote the use of multi-application smart cards throughout the region." ------------------------------------------------------------ "We are committed to making the Singapore Project a showcase for the smart card industry. It is a critical project in our strategy to provide our valued customers worldwide with the most user-friendly and most advanced integrated smart card transit solution," said Francois Dutray, Motorola’s vice president and general manager, WSSD. "Motorola already has a strong presence in Singapore and we look forward to expanding our activities there." ------------------------------------------------------------ The award of the contract to the ERG/Motorola Alliance follows the recently announced smart card contract in Berlin. ------------------------------------------------------------ The ERG/Motorola alliance combines ERG's world-leading smart card and magnetic ticket-based integrated fare collection application expertise with ------------------------------------------------------------ Motorola's innovative M-Smart‘ world of flexible smart card platform solutions, its systems integration and its operational management capabilities. Complementary strengths of the alliance include complete wireless voice and data communication systems, location tracking and management and electronic purse operating experience. ----------------------------------------------------------- ERG is a world leader in the development and supply of technologically advanced smart card systems and services; automated fare collection products and systems; and telecommunications products and services. ERG provides turnkey solutions to customers, from design and manufacture, to supply, installation, commissioning and ongoing service and maintenance. In 1997/98, Australian-based ERG's revenue totaled A$242 million. For more information on ERG visit: www.erg.com.au. ------------------------------------------------------------ Motorola is a global leader in providing integrated communications solutions and embedded electronic solutions. Software-enhanced wireless telephone, two-way radio, messaging and satellite communications products and systems, as well as networking and Internet-access products, for consumers, network operators, and commercial, government and industrial customers. Sales in 1998 were $29.4 billion. For more information on Motorola, visit www.motorola.com. ------------------------------------------------------------ Motorola & M-Smart Venus are trademarks of Motorola, Inc. ------------------------------------------------------------ http://www.erg.com.au/invst_relations/reports/annrept/2002_financials.pdf ------------------------------------------------------------ Shares in Associates ------------------------------------------------------------ Investments in associates are accounted for in the consolidated financial statements using the equity method of accounting and are carried at cost by the parent entity (refer to note 16). ------------------------------------------------------------ During the financial year, the investments in Prepayment Cards Limited and ECard Pty Limited have been written down to the assessed recoverable amount of $5,355,186 and nil, respectively in the consolidated entity. ------------------------------------------------------------ The above shares in associates represent interests in associated entities which are involved in the development and commercialisation of the consolidated entity’s smart card and electronic ticketing solutions, further details of which are set out in note 1(k). ------------------------------------------------------------ Further details regarding the shares in associates are included in note 46. ------------------------------------------------------------ Triumphant Launch Sdn Bhd ------------------------------------------------------------ On 15 March 2002, the consolidated entity acquired 100% of Proton World International SA (PWI). This resulted in ERG obtaining 100% ownership of Triumphant Launch Sdn Bhd. ------------------------------------------------------------ During the financial year, up to acquisition date, the consolidated entity incurred costs on behalf of, and charged consulting fees to,Triumphant Launch Sdn Bhd amounting to $122,400 (2001: $156,627). At year-end, no amount (2001: $86,000) was payable to the consolidated entity. ------------------------------------------------------------ ECard Pty Limited ------------------------------------------------------------ Details of the total investment in ECard Pty Limited are set out in note 46. The closing balance of payables by ERG to ECard Pty Limited at year-end was $36,520 (2001: $88,691). ------------------------------------------------------------ Purchases by ECard Pty Limited from PWI during the year were $266,000. ------------------------------------------------------------ 46 Investments in Associated Companies ------------------------------------------------------------ Investments in associated companies are accounted for in the consolidated financial statements using the equity method of accounting and are carried at cost, less provision for diminution, by the parent entity (refer to notes 15 and 16). Information relating to the associated companies is set out below: ------------------------------------------------------------ Ownership Consolidated Parent Entity ------------------------------------------------------------ Name of Company Principal Activity Interest Carrying Amount Carrying Amount ------------------------------------------------------------ 2002 2001 2002 2001 2002 2001 % % $000 $000 $000 $000 ------------------------------------------------------------ Unlisted Corporations ------------------------------------------------------------ AFC Equipment Co Pty Ltd Financing and leasing of equipment and software 33.3 33.3 – – 2,000 2,000 ------------------------------------------------------------ Prepayment Cards Limited Supplying and servicing of prepaid fare collection systems 47.1 30.0 5,355 14,173 6,542 21,244 ------------------------------------------------------------ Triumphant Launch Sdn Bhd Supplying and licensing of stored value card systems – 50.0 – 27,426 – – ------------------------------------------------------------ ECard Pty Limited Development of smart card market 39.0 39.0 – 23,752 – – ------------------------------------------------------------ Total investments in associated companies 5,355 65,351 8,542 23,244 ------------------------------------------------------------ All of the aforementioned associated companies have a reporting date of 30 June, except for Prepayment Cards Limited which has a reporting date of 31 March. ----------------------------------------------------------- Triumphant Launch Sdn Bhd became a controlled entity on 15 March 2002 (refer to note 44). ------------------------------------------------------------ Following ERG's acquisition of Proton World, Triumphant Launch has now become a fully owned subsidiary of the ERG Group. Triumphant Launch is assiting the Proton licensee in Malaysia, Malaysian Electronic Payment System SDN BHD (MEPS), to further develop and implement smart card applications in the banking and government sectors. During the past two years, considerable effort has gone into the certification of the Malaysian Government Multipurpose Card (including the Proton e-purse) of which several million are in circulation. In addition, extensive work has been undertaken with MEPS to extend the functionality of the exisiting Proton epurse host. Some of these functionalities include internet load and payment. Currently Triumph Launch is involved in a feasibility study of introducing the in vehicle parking meter in Malaysia. Triumphant Launch is also actively participating in the migration to chip based EMV cards in Malaysia, with the first step being the upgrade of the country's ATMs. ------------------------------------------------------------ [ Next Thread | Previous Thread | Next Message | Previous Message ] |
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| Re: Triumphant Launch for period 30/6/2002--to 31/12/2002 reported on around March11ratified 28/11 | anonymous | 19:08:45 11/08/02 Fri |
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