SINGAPORE (THE BUSINESS TIMES) – IT solutions and products provider Azeus Systems Holdings has bagged a HK$1.02 billion (S$180 million) contract to design and develop the central electronic record-keeping system of bureaus and departments of the Hong Kong SAR government over a 53-month period.
The contract is the single largest contract secured by Hong Kong-based Azeus in corporate history, the company said on Monday (May 9).
The estimated contract value includes HK$633.9 million for the total implementation price, as well as HK$381.4 million for the system's maintenance and support for 10 years following its implementation.
Azeus expects the contract will boost the adoption of its content and records management product Convene Records, which will be customised before being deployed across the government's departments.
Some 75 per cent of the estimated contract value would be for the licence and maintenance fees of the Convene Records software. The actual total contract value will be subject to the government's confirmation of the number of users and departments in the course of the project, the company said.
Azeus expects design and implementation works will begin in this month and a majority of the revenue to be contributed from its next financial year until financial year 2037.
Shares of Azeus closed flat at $6.20 on Friday.