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MIT
reports Rs. 600 m loss
The company took multiple hits in the last financial year following the terrorist attacks of September 11 in the US and key projects going sour due to the inability of clients to pay up. As a result, MIT's ambitious US growth plan and its local 'Silicon Valley' style campus complex has had to shift to low gear but with hopes of a comeback in 2003. MIT's Chief Executive Officer Tony Weerasinghe who is overseas at present, in an interview with Sunday Times FT in May 2002 said that the company had expanded during the period opening offices in Singapore and USA while prospective clients put up shutters due to effects of September 11. He added, "Also, during the year some of the clients couldn't pay up... So we had no option but to close the contracts. This type of thing is not heard of in this part of the world." A company spokesman, when contacted, said that such a high loss was essentially owing to heavy provisioning for two projects in which the clients have been unable to settle their dues. "It is not a cash loss," the spokesman said. Business analysts say MIT is reportedly working on deals with three large US clients the value of which should turn around the company accounts overnight with a target of around US $34 million in the medium term. One of the projects is expected to be completed in the coming months but the client could not be identified due to non-disclosure agreements, according to MIT's CEO. MIT's campus project was also delayed several times because the promised infrastructure was not made available on schedule. However, the company is now in occupation of the complex with a state-of-the-art work and play style of environment. The complex was completed at a cost of Rs. 550 million, below its targeted budget, according to informed sources. An official opening is expected shortly.
HP
Printers are Star Performers HP won Star Performers for eight of its printers in the categories of Enterprise Colour Inkjet Printers, Enterprise Colour Laser Printers, Enterprise Monochrome Laser Printers and Multi-function Devices. Local software
expertise for Tokyo A unique assignment in customizing the accounting software for an organization based in Tokyo was the translating of Postdated Cheques into the Japanese equivalent known as "Tegathas". Other significant features of the software include a cheque-writing feature and data transfers from banks, which automates bank reconciliation, fixed assets and cash flow management. A sophisticated feature in the system is the multilevel consolidation of accounts with data transfer via e-mail from overseas branches to facilitate control of the business from Sri-Lanka. Datamation Systems is in its 17 th year of operation and has over 45 software engineers in its development team. Currently 900 modules of its system "Finac" have been implemented in several market segments such as Trading Houses, Tea Exporters, Airlines, Garments and Freight Forwarding. Middle East
distributor for Dialog
Nushad Perera, GM Sales and Marketing said of this new venture, "We see that more and more Sri Lankans are looking for technology that is simple and easy to access. Mobile phones are no exception. It is getting into the commodity category and needs to be ready when the consumer needs it". The availability of the service in UAE enables Middle East returnees to switch on mobile phones connected to the Dialog network immediately upon arrival at the airport. Frico is a fully owned subsidiary of Trico Maritime Ltd and is in the business of handling cargo to Sri Lanka shipping over 1,200 containers annually. SLT contracts
for new billing system The new billing system has the flexibility to allow SLT to bill for any type of product or service currently offered or proposed in the future under one central system. This provides the freedom to customers to make phone calls, paying utility bills, purchasing music videos and even online currency exchanges as and when services are introduced without being restricted by multiple bills, etc. Phase 1 of the billing system is scheduled to go live in March 2003 for billing ADSL, Internet and other data services. Thereafter successive phases in June and August will cover corporate customers and residential customers. Convergys Corporation is internationally rated for integrated billing, employee care and customer care services provided through outsourcing and licensing. Clarity International is an operational Management software development company servicing global telecommunications and utilities markets. Promoting
IT the mobile way At each location visitors can view and learn about the latest technological trends in IT, including the Internet. A special crew also travels with the bus to explain about the products and the software being exhibited. The products include demonstrations of the basic use of a computer and other related products such as printers and multimedia equipment. The audience is also given an overview of software tools such as the media player, educational software, web browser, and home design tools. The company also co-ordinated a special promotion with a radio station and a fast moving consumer goods product company to enhance the offering. As a decade-old company having marketed through dealers it has previously not utilized advertising to promote sales. However, establishing a direct to end-user sales channel, Kobian Technologies has begun to realize a growth in product inquiries since the bus has been on the road. Company officials said it is in the process of refurbishing yet another bus to increase its coverage. This year it hopes to tour schools to promote IT. Kobian Technologies is also represented in major parts of the island through 10 branches and has sales of over 300 computers a month. Recruitment
for ICT Agency begins The CEO will coordinate all activities of the agency with reporting responsibility to the Chairman and Board of Directors. The programme directors will work under the CEO in their respective areas. The work areas for the programme directors are ICT Human Resource Development, Information Infrastructure, e-Goverment, and ICT Promotion and Partnerships. The appointments are being offered on a contract basis for a three-year period with provision for extension indicating commitment to a tight schedule. The remuneration packages are also expected to be in line with prevailing market rates. The deadline for submissions of application is January 24. New
Year in Tech's way This service that was initially thought by many to not be successful in the country has taken off largely due to innovations of mobile operators. Though the company did not divulge figures, estimates a few months ago placed the regular figure at over 400,000 messages per day. Industry analysts say that ICT is expected to see its biggest growth this year with mobile communication playing a leading role. The main reason for growth being the Calling Party Pays (CPP) system expected to be introduced sometime during the year. Originally the date was set for January 1 but that has now been delayed due to discussions on pricing and other issues such as the time taken to activate new processes in billing. Yet another factor is the announcement by a third mobile operator, Mobitel, of its plans to introduce its own GSM technology network. The GSM technology is the most popular among cellular operators globally. The downside according to analysts would be the increase in call charges, which may be received with mixed reactions. This too is likely to be settled and be accepted by the public at some point. "How long can people stay without making calls?" asked an analyst. Penetration of value added services is the other area that would see an increase, especially in the mobile sector. In addition to the regular introduction of novel SMS services, MMS (Multi Media Messaging) is expected to take off. MMS encompasses colour, picture and sound and is greatly inhibited by phone units. The services, according to Nushad Perera, General Manager Sales and Marketing at Dialog, "will catch up with the reduction in phone prices and less bulkier MMS enabled units. MMS will eventually replace SMS. Though this is the vision it is left to the customer and market to decide". Mobitel:
Same vision under SLT What is the
new role for Mobitel, as a fully owned subsidiary of SLT? What will
be the new investment like? The SLT Chairman,
at the time of the acquisition, spoke of Mobitel becoming No. 1
by 2004. How do you plan to achieve this? How will
the transformation to GSM take place? When do you
expect to phase out the TDMA (time division multiple access) technology
presently in use? What other
product offerings have you planned? Being a fully
owned subsidiary of SLT, will Mobitel enjoy benefits in call rates,
etc over other cellular operators? With the
new structure, will the existing staff be retained? Other networks
that have had to migrate to new technology have not been quite successful.
What do you think is the secret in Mobitel's aim to become No. 1?
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Copyright © 2001 Wijeya Newspapers
Ltd. All rights reserved. |
Leading
software solutions developer Millennium Information Technologies
(MIT) has reported a loss of Rs. 600 million for the period ending
March 2002 against a profit of Rs 450 million in the previous year,
according to its latest annual accounts released to shareholders
recently. 
With
the growth and popularity of IT, a local company has devised a novel
way of promoting its products. Kobian Technologies has transformed
a luxury bus into a mobile office and display unit with the complete
range of computing products it offers.
