Further to the Company's recent advice that it was finalising relationships and sales contracts in Australia, China, India, Indonesia and Malaysia, the Company is pleased to announce its third contract in Malaysia.
This contract was concluded on Friday August 2, 2002 with Sapura Transmission Sdn Bhd (a member of the Sapura Group of Companies) to supply the Arcadian Wireless pursuant to a contract valued at US$10.5 million between Sapura Holdings and Telekom Malaysia Berhad. Network planning will commence this month and the contract is expected to be completed within 18 months.
This brings the total value of sales agreements to over $US90 million.
The ability to win orders in the current market climate is a strong endorsement of the Company's technical capability and competitive pricing structure. The ability of the Company to secure a contract of this magnitude within four weeks of the International product launch at CommunicAsia is a further endorsement of the industry's acceptance of the product. From the multitude of commercial enquiries received, the management of Cape Range Wireless is focusing on selecting those distributors that hold existing contracts and relationships in key markets.
Wherever possible, shareholders will be advised as contracts are finalised.
Sapura Transmission Sdn Bhd is a member of the Sapura Group of Companies (www.sapura.com.my). The Sapura Group is involved in telecommunications and IT related businesses. Its activities include manufacturing, servicing and marketing of telecommunication products, as well as an involvement in the automotive, defence and energy markets. In 1999, Sapura successfully implemented the Total Airport Management System at Kuala Lumpur International Airport, a first of its kind in the world. Sapura is also involved in the Malaysian Government's Smart School initiative and the E-Government initiative, both of which are part of Malaysia's Multimedia Super Corridor Flagship program.
R Wise CHAIRMAN
YOUR COMMENTS APPRECIATED - WILL CAG PERFORM ON THE NEAR FUTURE OR IS THIS ANOTHER CONTRACT THAT WILL TAKE YEARS TO COME TO FRUITION
YOURS MIKE SALAD
CAG Price at posting:
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