|
PRESS CLIPPINGS
Subject:
MultiVision
Publication:
The Business Times
Date:
26 February 2003
Multivision eyes SMRT contract
It emerges from loss, with net
profit of HK$16.5m for first nine months
HONG KONG-BASED Multivision Intelligent
Surveillance has teamed up with three local companies
to submit a bid for the supply and installation of improved
video surveillance technology for Singapore's MRT system.
 |
| Station control: Multivision
is teaming up with three local firms to bid
for SMRT's video surveillance technology contract
|
|
The contract's
value is estimated at over $10 million, and is for the
enhancement of the system's surveillance capabilities,
Multivision president and chief operations officer Dennis
Li told BT yesterday. He said the upgrades include installing
new cameras and a digital recording system.
In addition, Multivision is also looking
at providing wireless transmission capabilities that
will enable train operators to see the train platforms
before they arrive at stations. The tender is expected
to be awarded in several weeks' time.
Yesterday, Multivision posted net
profit of HK$16.5 million for the nine months ended
December, reversing a net loss of HK$5.4 million in
the previous corresponding period. The technology firm,
which was listed in Singapore just over two months back,
develops and distributes digital video surveillance
products.
Though group turnover for the nine-month
period surged to HK$62.5 million from HK$7.2 million
a year ago, Mr Li pointed out that Multivision's revenue
for the past four consecutive quarters - including Q4
of its FY02 - has been relatively consistent.
For the three months ended December,
Multivision's fiscal third quarter, turnover came to
HK$23.3 million, versus HK$1.7 million previously. Some
63 per cent of this came from China, while 22 per cent
was from the US. Q3 net profit totalled HK$6 million,
while earnings per share works out to 2.17 HK cents.
Multivision yesterday said it enjoyed
improved sales of its products during the recent period
as a result of growing market acceptance as well as
its marketing and promotions efforts.
It said that since the start of 2003,
it has secured more digital video surveillance contracts
worldwide, including a pilot casino project in Macau.
Multivision in December 2002
offered 70.1 million new shares at 23 cents each for
a listing on the Singapore Exchange. Over the past two
months, its shares have gained some 28 per cent, and
yesterday ended half a cent lower at 29.5 cents.
|
Copyright (C) 2003, MultiVision Intelligent Surveillance All rights reserved.
