EGI 0.00% $1.14 ellerston global investments limited

eglobal secures $18 million contract!

  1. 420 Posts.

    Brisbane based technology company eGlobal International Limited continues to drive ahead in the Chinese smartcard technology market. The Company will play a significant role in a new major Provincial
    Drivers Licence Project in China through its associated Company, eGlobal Hong Kong Ltd. As recently announced to the ASX, eGlobal International Ltd are planning to complete the acquisition of eGlobal
    Hong Kong Ltd in the next few months subject to shareholders approval and an Independent Experts Report.

    The project is for the supply of approximately 1.5 million smartcard based Drivers Licences and some 6,000 eGlobal SmartVision Mobile Smartcard Readers.

    The specific terms of the project are subject to commercial confidentiality, but the total revenues for eGlobal are estimated to be approximately A$18 million over a two-year period.

    The contract will involve eGlobal's associated company eGlobal Hong Kong Limited, which is already servicing several smartcard-based contracts in China, including a major medical insurance contract.

    Jim Goldburg, eGlobal International chairman, said the planned acquisition of eGlobal Hong Kong means that projects such as this will add significant revenues to eGlobal International in Australia.

    The revenues from the new drivers licence project will be collected by the Police Provincial Bureau directly from the sale of eGlobal's innovative Smart Card Drivers Licences that incorporate an encrypted photographic passport style image and other specific details of the
    user. These licences will be validated by the use of eGlobal's patented SmartVision' mobile smartcard readers.

    Gordon Chalmers, eGlobal International managing director, said the new drivers licence project will be the second large smartcard project that eGlobal Hong Kong has been involved with in China, having already delivered over a million cards, hundreds of POS
    terminals and mobile smartcard readers over the last year.

    "This new project will allow eGlobal International to deploy a range of its own technologies into this overall system," he said.

    "The new GSM based smartcard readers developed by eGlobal International for the North American market will be modified specifically for this new application to incorporate a range of security and encryption related functionality."

    Mr Chalmers said the new drivers licence project is the first of several potential projects that could be won by eGlobal Hong Kong in coming months.

    "Following the acquisition of eGlobal Hong Kong, it is planned that a range of the new eGlobal smartcard and mobile payment technologies will be deployed in China," he said.

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