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| Subject: Singapore commenced operation 13th of April 2002 (FY3--30/6/2002 to 31/12/2002) | |
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Author: anonymous |
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Date Posted: 14:32:43 11/05/02 Tue Singapore did not commence full operation till the 13th of April 2002---the prior financial period being the 30/6/2001 to 30/6/2002 as reported on the 12/9---audited the 1/10---within the results The Group received 3 months worth of revenues---next time the entity reports on or around March 11th 2003 (going on last time) it shall receive 6 months worth of revenues from Singapore covering the period 30/6/2002 to 31/12/2002---which is the first half of Financial Year 2003. --------------------------------------------------------------------------- ERG LIMITED 2002-05-02 ASX-SIGNAL-G HOMEX - Perth +++++++++++++++++++++++++ ERG Group is pleased to announce the successful rollout of its integrated smart card ticketing system on Singapore's public transport network. The smart card ticketing system commenced public operations on 13 April 2002, following a successful three-month trial, and is already processing more than 1 milliontransactions a day (compared with 25,000 a day during the trial period). The system has been enthusiastically adopted by Singaporeans, with around 30,000 new cards being issued daily. It is expected that the system will process around 4 million transactions each day by end of 2002. In April 1999, the Land Transport Authority of Singapore (LTA) awarded ERG the contract to design and develop an integrated smart card ticketing system on five public transport operators. The system, which involves 22,000 readers and the issue of 5 million smart cards, is one of the largest integrated smart card based transit systems in the world. The LTA has also awarded ERG a three-year maintenance contract worth S$15 million (A$16 million) to support the new system. Mr Silvester Prakasam, General Manager of EZ-Link, stated: "The Singapore system represents the most advanced and cost-effective ticketing technology which will benefit both our operators and patrons. Now that we have established a solid base, we intend to expand the system in the coming years beyond public transport." ERG's Managing Director Asia Pacific, Mr Rob Noble, said "The successful rollout of Singapore means that ERG's MASS technology now processes transit transactions in two of Asia's major cities - Singapore and Hong Kong. By the end of this year, these sites will be processing transactions at the rate of more than 4 billion annually. We are proud to say thatthe Singaporean system is one of the most technologically advanced ticketing systems in the world." BACKGROUND INFORMATION ERG GROUP ERG Group is a world leader in the development and supply of integrated fare management and software systems for the transit industry, and for its smart card systems and services. ERG is an Australian-based company, listed on the Australian Stock Exchange. LAND TRANSPORT AUTHORITY OF SINGAPORE The Land Transport Authority (LTA) was inaugurated in September 1995 as a statutory board under the Ministry of Transport. LTA spearheads all land transport developments in Singapore, including the building of the road network and the development of the rail infrastructure. It is committed to furnishing Singapore with a quality and efficient land transport system. EZ-LINK EZ-Link Pte Ltd, a subsidiary of the Land Transport Authority, was formed on 8 January 2002. EZ-Link will expand the use of the ez-link contactless smart card beyond the public transport industry for general micro payments. [ Next Thread | Previous Thread | Next Message | Previous Message ] |