The company announces that it has received confirmation of appointment for a significant, long term project in Thailand. Working with online consumer lending application vendor, Credisystem (http://www.credisystem.com/ingles/index.html), Hyro Thailand is working with a major motor vehicle company to implement an online consumer lending application for motor vehicle finance. Hyro Thailand is the prime contractor for the project and is providing application customisation, localisation, implementation, project management and ongoing support and maintenance services. The initial engagement term is three years, with an option to renew at the end of this three year program. This first project represents the first country rollout for this motor vehicle manufacturer of the Credisystem application in potentially up to five countries throughout the Asia Pacific region. Hyro has entered into an exclusive partner relationship with Credisystem in several of the countries proposed for the rollout program and Hyro Thailand will act as a regional support centre for Credisystem. “The strategic partnership came as a result of a detailed search of suitable partners in the Asia Pacific region by Credisystem in the middle of 2005. Hyro’s combination of skills, experience and geographic spread within the region and our clear ability to support their requirements, positioned Hyro as an excellent fit for Credisystem” said Hyro CEO, Mr Joe Calavassy. “This first project firmly establishes the foundation for Hyro and Credisystem’s future successes in the Asia Pacific region.” The project has an initial total budget of more than THB 48,000,000 (Approx A$1,600,000) over three years including licensing, support and implementation services. For further information call: Joe Calavassy Richard Lord Chief Executive Officer Chief Operating Officer Hyro Limited Hyro Limited (02) 9215 4222 (02) 9215 4222
About Hyro: Listed on the Australian Stock Exchange (HYO), Hyro provides award winning Online Services solutions and services which bridge the gap between advertising and marketing and the business systems of our clients. Hyro provides professional services and associated solutions in the Online Services space. The company has expertise which extends from the development of online strategy, campaigns and customer servicing programs through to the design, development and implementation of technology to support these initiatives. Hyro also provides ongoing management services including channel management (such as internet, mobile and digital broadcast channels) and campaign facilitation and the maintenance and support of technology systems and applications. The recent acquisitions of the ISMC Group and Hot Magna businesses by Hyro has expanded the capabilities of the group and added ISO Certified systems and processes for all technology services. The acquisitions also added exclusively owned technology solutions which are now proprietary to Hyro, including significant government services delivery technologies, developed via the group’s 80% joint venture with the University of Queensland, ISMC Solutions. Hyro generates revenue through the provision of services, the sale of software licences either for technology owned and developed by the company or on behalf of our vendor partners, or from revenue share programs for online and wireless business campaigns. With a global headquarters in Sydney, the company has significant strategic, creative, and technological resources distributed across six major centres in Australia and South-East Asia. Website: www.hyro.com Corporate / investor Website: www.hyrolimited.com
HYO Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Not Held
