Singapore — September 22, 2006 — Advanced Card Systems Ltd a leading smart card PC Link reader vendor in APAC, received an award from Frost & Sullivan for Business Development Strategy Leadership for the world PC Link readers market, during the inaugural 2006 Industrial Technologies Awards Banquet at the Grand Copthorne Waterfront Hotel in Singapore on 22 September, 2006.
The Award recognizes the company's ability to best perceive consumer needs, develop products and/or services that meet consumer needs, successfully introduce products or services to the industry, and identify new market segments to expand the existing customer base. Through a combination of vision, technology, and successful marketing, the Award recipient has demonstrated superior market growth skills.
In his address on the Automation and Electronics sector, Sanjay Singh, Director of Industrial Technologies said, "Frost & Sullivan’s focus on the Smartcards, RFID and Semiconductors sectors that encompasses all elements of the value chain has allowed us an extremely good understanding of these industries. Our presence in Asia has provided the opportunity to interface with the leading and emerging industry participants in these areas. All these industry sectors, especially Smartcards and RFID, are witnessing rapid growth in Asia."
"For instance, the smartcards market in APAC was estimated to be around 1 billion units in 2005 with a growth rate of around 20 percent driven by the major applications in telecom, banking and finance as well as transit and ID & security applications." he added.
In the world today various types of smart card readers have come out for a variety of uses or smart card application. Significant inroads are being made to overcome the obstacle of high costs of readers. Several partnerships such as outsourcing manufacturing to local market participants have led to introductions of lower cost readers. Technological advancements and increasing choice in the reader market will further drive down prices. Economies of scale will be reached as higher quantities are sold. This trend is making smart card technology more and more affordable to a greater number of end-users including small establishments.
"With increasing growth and acceptance of smart cards in the world today, it is expected to provide significant growth and opportunities for ACS to further grow through its innovative products. ACS also continued to show expansion into new geographical markets, such as Europe and America through strategic alliances and partnerships." said Program Manager for Smart Cards and Auto ID, Jafizwaty Ishahak.
In year 2005, ACS experienced positive growth with over 56 percent increase in its sales revenue. ACS’s Europe and APAC readers market contributes approximately 90 percent to its 2005 sales revenue. In the same year, approximately 90 percent of its total readers shipment was contributed by its PC link smart card reader and chipset products. Approximately 95 percent of its PC link readers are contact based. ACS has identified government ID, logical access control and banking application as key applications for its readers.
"We are delighted to stand out from our competitors around the world to receive this award. As one of the global leader within the smart cards & readers industry, ACS’ success not only prove our business penetration strategies, but also its innovative products have no doubt had an immense impact on the world smart cards and readers market", said Denny Wong, Chairman & CEO of ACS.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit http://www.awards.frost.com
Corporate Communications - Asia Pacific
About Advanced Card Systems Limited
Founded in 1995 and now listed in the Hong Kong Stock Exchange, Advanced Card Systems Holdings Limited (ACS) is one of the selected groups of global companies at the forefront of the smart card revolution. ACS develops, manufactures, and distributes a wide range of high quality smart card reading/writing devices, smart cards, and related products to over 80 countries worldwide, facilitating an easier adoption of smart card applications in different industries.
As the one of the world's leading supplier of PC-linked smart card readers, ACS has the technology, expertise, and global resources to develop and offer the next generation in smart card versatility to satisfy the needs of its customers worldwide. ACS has established excellent relationships with major players in the smart card industry around the world. ACS products are sold to world-wide customers in the Americas, Europe, Asia, etc. Customers include smart card companies, solution houses, system integrators, equipment manufacturers, distributors and re-sellers
For more information, please contact
Senior Sales Manager
Advanced Card Systems Ltd.
Unit 1008, 10th Floor
Hongkong International Trade and Exhibition Centre
1 Trademart Drive, Kowloon Bay
Tel: +852 2796 7873
Fax: +852 2796 1286