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FOR IMMEDIATE RELEASE
KarenSoft Enters into Strategic Partnership
with Yangzhou city Government via MoU
Georgetown, PENANG - 14 October 2003 -
KarenSoft Technology Berhad, an MSC-Status
company which is listed on the Kuala Lumpur
Stock Exchange Mesdaq Market, has today
signed a memorandum of understanding (MoU)
to establish a strategic partnership with
the Management Committee of the Information
Office of Yangzhou city, China to assist
them in their efforts to develop into
a digital city, complete with e-government
services. KarenSoft was selected to enter
into the partnership because the Yangzhou
city government felt that KarenSoft products
were the perfect solutions for their city's
needs.
For the MoU, Yangzhou city Information
Office was represented by its Deputy Director
of Yangzhou Development Planning Commission
& Deputy Director of Yangzhou Information
Office, Mr Tang Zhengyuan while KarenSoft
Chief Executive Officer, Mr Chee Chong
Hwa signed on behalf of KarenSoft. The
signing was witnessed by Miss Tho Su-Fen,
solicitor from Paul Chong & Nathan, and
Mr Hong Jinhua, Executive Vice Mayor of
Yangzhou city.
"One of the objectives of our visit is
to bring industrialisation to Yangzhou,
and your KarenSoft ERP2 (Extended Enterprise
Resources Planning) products are a perfect
fit," Executive Vice Mayor of Yangzhou,
Hong Jinhua said. He added that Yangzhou
is among the 10 cities included in the
Chinese Government's pilot project for
China's 'Informatization' programme.
According to Deputy Director of Yangzhou
Development Planning Commission & Deputy
Director of Yangzhou Information Office,
Tang Zhengyuan, the local government has
the intention to spend RMB300 million
progressively over the next five year
period for the development of a "Digital
City" via its e-government services to
improve its public services. As such,
KarenSoft's presence and assistance in
Yangzhou would be a great boost to this
project.
Chee said, "The collaboration between
both Yangzhou and KarenSoft will bring
tremendous benefits in the effort to promote
application technologies particularly
to the 1,500 enterprises in Yangzhou."
He added that the signing of the MoU was
timely as China figured strongly in KarenSoft's
overseas expansion plans. He also informed
the delegation that KarenSoft had already
made its foray into the Chinese market
by sending its implementation team to
Dongguan city since early this year. Expanding
to other cities across China such as Yangzhou
was simply a matter of time, he said.
Chee said that KarenSoft will set up an
R& D Centre and a regional sales office
in Yangzhou, China to distribute its ERP2
with the support from Yangzhou city government.
To spearhead this new exciting venture
into Yangzhou, KarenSoft is appointing
Mr Brite Lee as the KarenSoft Country
Manager for China, he added.
Hong said there are approximately 1,500
local enterprises with a combined annual
turnover of RMB5 million which meant there
is a ready market for applications which
enhance efficiency and productivity, especially
those developed by KarenSoft such as its
ERP2 system. At the moment, he estimates
that the potential market in Yangzhou
for applications should be approximately
RMB 60 million.
The trade delegation from Yangzhou headed
by Mr Hong Jinhua (Executive Vice Mayor
of Yangzhou city) comprised Mr Yin Shengyuan
(Vice Secretary General, Yangzhou Municipal
People's Government & Director of Yangzhou
Economy & Trade Commission), Mr Tang Zhengyuan
(Deputy Director of Yangzhou Development
Planning Commission & Deputy Director
of Yangzhou Information Office), Mr Zhang
Liansheng (Deputy Director of Yangzhou
Foreign Affairs Office) and Miss Zhao
Lan (Programme Coordinator and Interpreter
of Yangzhou Foreign Affairs Office). This
is a follow-up visit from Yangzhou as
an earlier delegation had visited KarenSoft
a month ago and were impressed enough
to lobby for an MoU with KarenSoft.
KarenSoft's Extended Enterprise Resources
Planning solutions or ERP2 consists of
Sales Distribution, Materials Requirement
Planning, Logistic Management, Planning
and Production, Financial Accounting &
Fixed Assets, Human Resources Information,
and Customer Relationship Management.
ENDS
MOU between KarenSoft and Yangzhou...from
left: Mr Hong Jinhua (Exec. Vice
Mayor of Yangzhou), Mr Tang Zhengyuan
(Deputy Director of Yangzhou Development
and Planning Commission & Deputy
Director of Yangzhou Information
Office), Mr Chee Chong Hwa (KarenSoft
CEO) and Miss Tho Su-Fen (Solicitor
from Paul, Chong & Nathan). |
Here's to a strategic partnership!
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