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Latest NewsOctober 2007ST Electronics And Albacomp Computers Company MOU signed during PM Lee Hsien Loong’s official visit to Hungary Singapore, 9 October 2007 — Singapore Technologies Electronics Limited (ST Electronics) and Albacomp Computers Company (Albacomp) have signed a Memorandum of Understanding to jointly pursue and implement ICT (Information Communication Technologies) -based infrastructure projects for the public and private sectors in Hungary. Albacomp is amongst the five largest IT companies in Hungary and is based in Székesfehérvár, 60km from Budapest. Witnessed by Singapore’s Prime Minister, Mr Lee Hsien Loong and Hungary’s Minister of Economy & Transport, Mr Janos Koka, the MOU was signed in Budapest during the Singapore-Hungary Business Forum, organised as part of PM Lee Hsien Loong's official visit to Hungary. ST Electronics is the electronics arm of Singapore Technologies Engineering Ltd (ST Engineering). As a start, both companies have identified and agreed to pursue two public projects in Hungary, in mass transit applications and in e-Government solutions. The companies expect potential market opportunities worth more than US$100m in the near term.
This collaboration agreement is yet another step towards achieving Albacomp’s strategic goals in increasing its revenue from providing services, specifically systems integration and consultancy services. We expect about half of our turnover in 2008 to come from these services.
ST Electronics’ turnkey integrated transportation solutions for both rail and traffic management users have successfully been deployed in Beijing, Guangzhou, Manila, Bangkok, Taipei, Kaohsiung and Singapore. It recently won a contract to provide communications, SCADA, Platform Screen Doors and Maintenance Management Systems for the Taiwan Taoyuan International Airport Access Line and a turnkey integrated solution for a commuter rail project in Istanbul, Turkey. ST Electronics’ e-Government solutions are used globally, from its managed services for MINDEF’s more than 350,000 active personnel, regulars and NSmen of the Singapore Armed Forces (SAF) to the S$100m command, control and communication (C3) network for the Hong Kong Fire Services Department which enables them to respond to emergencies quickly and efficiently. In Singapore, the i-Transport Systems for the Land Transport Authority enables them to monitor, control and regulate traffic while providing timely traffic information to motorists. Other successes include the eNotification system that assists in mass notification of people for major events or in emergency situations, a Trusted Vault system for secure document management and an integrated C3 network for the Ministry of Home Affairs allowing the Home Teams to communicate. Overseas, ST Electronics has implemented a networked communication system for Maldives’ 24 islands through which the government shares information electronically, communicate securely and enjoy maximum access and minimal disruption to services. Botswana has implemented ST Electronics’ Pay-As-You-Earn and Other Withholding Taxes Systems for the Botswana Unified Revenue Service, as well a Crime and Criminal Recording system for the Botswana Police Service and Kazakhstan schools benefit from multimedia labs and education solutions. Albacomp Computer Company, based in Székesfehérvár, near Budapest, is quoted amongst the 5 largest IT companies in Hungary, offering a complete palette of IT services. It is 100% under Hungarian ownership. Albacomp is able to offer practical solutions to its clients in every sector of the IT industry from the smallest component to the most complex corporate governance system. Next to having kept the manufacture of hardware in its profile, the company has developed into one of Hungary's largest systems integrators, developed a consultancy branch possessing depth of experience, opened a nation-wide network of service centers, and have developed skills in countless other areas of the IT industry that, overall, enable them to design, develop, distribute, install and operate all encompassing IT and telecommunications systems that meet the demands of the modern age. The company is famous for its nation-wide service network. Its annual turnover in 2006 was 66.4m Euros. ST Electronics, the electronics arm of ST Engineering, delivers innovative system solutions to government, commercial, defence, and industrial customers worldwide. It specialises in the design, development and integration of advanced electronics and communications systems, such as broadband radio frequency and satellite communication, e-Government solutions, information communications technologies and IT, rail and traffic management, real-time command & control, training and simulation, intelligent building management, and information security and mobile commerce solutions. Please visit www.stee.stengg.com. ST Engineering is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenues of $4.49b in FY2006. With a market capitalisation of over $10b, it ranks among the largest companies listed on the Singapore Exchange. ST Engineering has more than 18,000 employees worldwide, and over 100 subsidiaries and associated companies in 20 countries and 35 cities. Please visit www.stengg.com. Media contact:Magdalen Loh
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Within the framework of our cooperation, we will provide the local knowledge and IT expertise of Albacomp to the system solutions of ST Electronics that cover a range of ICT areas. Albacomp will tailor ST Electronics' solutions to suit the Hungarian legal and regulatory specifications, and will also take care of the company’s licence sale business. In my opinion, this enables us to successfully participate in domestic IT tenders where applicants are required to have special solutions, through localisation and marketing networks.
Zoltan BALAZS,
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