Trading at heavy discount to cash backing and will turn to profitability next year.........investors will kick themselves in 6mths for not buying SNX IMO........
To provide e-security services for Aust Customs CMR project 11:12 22/7/2002 No.3192545
SECURENET LIMITED Last trade $0.680 at 11:21 22/7/2002
SECURENET LIMITED 2002-07-22 ASX-SIGNAL-G
HOMEX - Melbourne
+++++++++++++++++++++++++ SECURENET PROVIDING PERIMETER AND INFRASTRUCTURE E-SECURITY TO BUILD CUSTOMS' AUTHENTICATION AND TRUST SYSTEMS
e-security provider SecureNet Limited (ASX: SNX) today announced that it has been selected by Australian Customs to provide the public key infrastructure (PKI) and services required for its new online import/export system. The transaction will generate revenue in excess of $2.0 million for SecureNet.
Called the Cargo Management Re-engineering project (CMR), the new online import/export system for Customs will modernise the handling of products coming in and out of Australia and is aimed to conform to new government legislation to be introduced in 2004.
SecureNet was initially involved in the project to provide perimeter e-security solutions such as firewalls, gateways and virus protection. Through its acquisition of the Australian and New Zealand operations of Baltimore Technologies, SecureNet will now also provide the infrastructure security using Baltimore's PKI technology. Customs will use the PKI for the CMR to provide a framework to generate, store and manage digital certificates and signatures as well as the associated PKI policies and procedures for cryptography.
"SecureNet is providing a significant proportion of Customs' e-security needs, reflecting its broad range of perimeter, infrastructure and application solutions. This breadth of solutions reflects the successful acquisition and integration of Baltimore Technologies earlier this year, with a number of other major contracts imminent as SecureNet consolidates its market leader position," said Geoffrey Ross, Managing Director of SecureNet.
