contract win

The company announces that a significant contract has been signed in Thailand for the provision of development, support and maintenance services.

The initial contract is valued at THB 22,500,000 (Approx A$715,000) for delivery in 2006. Working with IBM Thailand, Hyro will be assisting with the localisation and implementation of a network based lending management solution within a major Thai bank.

“This engagement is indicative of the momentum we are seeing in our relationship with IBM, both locally and internationally” said Richard Lord, Chief Operating Officer of Hyro. “Our team in Thailand has the quality of skills necessary to help IBM implement an international solution in the local Thai market. This engagement is a great example of IBM and Hyro working as partners to add value to a client and we look forward to more examples of this in the coming years.” This contract represents a significant contribution to the revenue targets for the Hyro Thailand business for 2006.