opinion/speculation/valuation, page-6

re: opinion/speculation/koro/pbt It is quite sometime now since ERG was knocked out of the race in Melbourne. There has been no further announcement.
ERG has been examining the technology that East-West Denmark used to win the Danish (Netherlands?) AFC contract. MTR (HK) was used in the back office reconciling...the most critical part of the contract bid....
here is what MIf Thales and MTR do bid, ERG would be anxious to see what technology MTR was bringing to the deal, ERG chief executive Allan Sullivan said on Friday.

"We supplied the entire smartcard system in Hong Kong and we still do the maintenance," Dr Sullivan said.

He indicated that ERG would take a strong stand if it believed MTR was selling on the system ERG had supplied in Hong Kong.

"I am not sure what they have taken to Holland. They have no right, from an intellectual property point of view, to take the Hong Kong system to Holland.

"We'd be very interested to know what technology their system is based on."
r Sullivan CeO ERG had to say...."