System Limited has been successful in reaching out to big public and private organizations in Australia and UAE for providing various solutions to different sectors that have already added Rs 220 million besides future projects.
According to notification of Karachi Stock Exchange, the company has signed strategic contracts through its subsidiary TechVista Systems with UAE’s Prime Minster office, Etisalat, Emirates National Oil Company and RasGas in Qatar.
Techvista Vistas Systems FZ-LLC also set up a subsidiary in Australia earlier this year, which signed a contract with a large retail chain in Australia called City Convenience Store.
Official sources said the company’s management is highly optimistic about winning new projects in future which will earn handsome foreign exchange for the country.
The company is determined to establish long term and mutually beneficial relationships with these prestigious and well-known brands in these new markets.
”Based on our delivery, we will be able to win customer references leading to a growing business in these new markets.”
In addition to feeding the established technical workforce of Systems Limited for the offshore services, TechVista Systems FZ-LLC has also expanded its talent footprint by employing highly skilled resources in these markets to diversify its workforce as part of its global growth strategy.
System Limited has been one of the leading local companies with offshore offices and business in USA, UK Middle East having expertise in providing solutions in various sector from telecom to logistics, health and pharmaceutical, IT, banking and insurance, and etc,.
It has been one of the few companies in Pakistan having sound reputation in overseas for its business and innovative products however it has been exploring local market as well.
It recently won a project of Khyber Pakhtoonkhawa for digitalizing its land record system in four districts.
The company issued its first IPO of Thirteen million shares in December to receive a share price of Rs 40 against the base price of Rs25 per share along with three times higher subscription. The share values in the second IPO’s was offered at Rs 40 per share which also received a positive response from investors of equity market.
The company shares was being traded normally with higher volumes to settle at price of Rs 66 per share in merely seven months.