Azeus secures conditional acceptance of tender from HK govt for HK$79.1m contract

AZEUS Systems Holdings Ltd announced that it has secured a conditional acceptance of tender from the Hong Kong government for an IT services and maintenance contract worth up to HK$79.1 million (S$14 million).

The tender is expected to be finalised in July 2017, and the contract will involve the design, supply, delivery, installation, commissioning, and maintenance of hardware, software and related services for the implementation of a procurement and contract management system for the Hong Kong government.

The first phase of the project is expected to generate a one-off revenue of HK$44.0 million for Azeus that is payable in stages upon the completion of each project milestone.

The phase is expected to be completed within 30 months from June 29, 2017, upon which the system maintenance work will commence.

The maintainance work is expected to generate a further HK$35.1 million in revenue over a nine-year period following the conclusion of the one-year warranty period post-completion.

Lee Wan Lik, managing director of Azeus, said: "Azeus has established a solid track record having delivered award-winning IT services and a wide spectrum of maintenance services to governments and private corporations for decades. On the public sector front, we have completed over 100 projects for more than 40 government departments to date. We look forward to working closely on yet another IT services contract with the Hong Kong government, which has been an important client for Azeus through the years."

Azeus is a leading provider of IT consultancy services headquartered in Hong Kong, with a presence in the United Kingdom, the Philippines and China. The company was listed on the main board of SGX-ST in October 2004.