CCK strengthens with new Guava contract at RHB Sakura Merchant Bankers Berhad

Ten years experience in the Malaysian market has paid off for CCK Financial Solutions Ltd (CCK), a leading provider of treasury and capital market solutions. Announcing today that it had signed an Agreement with RHB Sakura Merchant Bankers Berhad (RHB Sakura) Malaysia, for the upgrade to the 'Guava Suite', CCK's treasury management system.

Guava Suite incorporates the specific requirements of the Malaysian market; in particular it has a specially designed module to handle Islamic Banking. Joseph Wong, Managing Director of CCK, said "our extensive experience in the Malaysian market over the last 10 years has enabled us to incorporate these features into the core design of the Guava Suite, not just a sector specific add-on."

CCK is able to deliver an advanced international treasury solution with localised features that appeal to Malaysian clients. "We are delighted that RHB Sakura is upgrading to Guava Suite. This will be CCK's first banking customer in Malaysia to upgrade to the Guava Suite of products", said Mr Wong.

RHB Sakura is being supplied a complete STP-based solution, that enables the Bank to deliver improved efficiency and higher levels of service to its customers. Mr Wong said, "we are excited to demonstrate the level of savings which can be achieved through Guava Suite's powerful work flow management capabilities and rich functionality and design".

RHB Sakura is an existing CCK customer, utilising CCK's INFINITY software, covering its back office operations. The software will be upgraded to the new generation Guava Suite. RHB Sakura will be using the software to handle its total treasury functions, covering money market, securities trading, foreign exchange and derivatives, for dealing, risk management and settlement and accounting functions. Guava will also cover RHB Sakura's corporate banking, custodian and syndication requirements.

Guava is a fully integrated suite of front to back office treasury applications, which provide users with effective straight through processing. The suite of products covers dealing (including pricing of financial products, portfolio analysis and deal capture), risk management (including limit management, computation of Value at Risk and compliance reporting) operations (including confirmations and settlement) and accounting.

This Agreement secures CCK's competitive position in the Southeast Asian markets, further building their stable client base. Other major clients include ING and AMEX.

CCK's 2002/03 financial year looks even more positive in light of this Agreement. Their recent announcement of substantial overhead reductions positions CCK towards positive growth.

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