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. Plus, DSTi's work management product HiContact/AWD is already being installed in China.
John Booth, Managing Director of DSTi Asia, stated that "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 that "DSTi, with its current Asian operation and product range, is extremely well placed to help China achieve these aims and that DSTi was now fully committed to playing a major role in its evolution".
Mike Winn, Group Managing Director of DSTi quoted "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."