Sydney, 19 February 2003â¦DST International (DSTi), which provides a comprehensive range of investment management and work management software solutions and related services, is building on its success in its Asian Region and is planning to open its first office in Shanghai, China early in Q2, 2003. DSTi already has offices in Hong Kong, Singapore, Bangkok and Manila. In December 2002 DSTi won its first China based contract with AEGON-CNOOC Life Insurance Company in Shanghai.
In addition to opening its own office in China, DSTi will be signing a distribution agreement with Beijing CA-Legend Software, the leading distributor of sophisticated financial services solutions within China.
In 2002, DSTi commissioned an independent external consultancy to review the potential for its product range and the results showed that all DSTi's products were relevant to the Chinese market. These independent findings confirmed DSTi's own views and have prompted DSTi to further accelerate its Chinese market plans. In particular, HiInvest (fund management front/middle office and real-time compliance), HiPortfolio (fund accounting - back office), HiTrade (enterprise wide broker dealing and risk management) and HiTrust (unit trust distribution and administration) have been identified as being of immediate interest to both domestic Chinese companies as well as international companies entering China independently or via joint ventures. DSTi's work management product HiContact/AWD is already being installed in China.
Ian Mathieson, Managing Director of DSTiâs Australian office, said: "This is good news for Australia as it will increase our global market spread for Australian-developed solutions. Enhancements and support for HiPortfolio and HiTrust will come out of our Melbourne Development Centre where we have a long established multi product support desk staffed by over 20 experienced support consultants. HiTrust is already multi-language and multi-currency and has been widely accepted in other Asian countries, including Hong Kong."
John Booth, Managing Director of DSTi Asia, stated "The Chinese finance market is evolving at a quite an amazing speed, with the full support and weight of the Chinese government, regulators and participants. China is seriously committed to adopting international standards and best practices." He added: "DSTi, with its current Asian operation and product range, is extremely well placed to help China achieve these aims and DSTi is fully committed to playing a major role in its evolution."
Mike Winn, Group Managing Director of DSTi commented: "We have thoroughly researched the huge potential of the Chinese market for our products and have already started the enhancements and documentation to meet the local needs by mid year. This is a natural extension of our already significant presence in Asia and underlines our absolute commitment to the whole region."