PSC INDIA TO RAISE $3 M LOAN FROM PHILIPS NV
Article Abstract:
Philips Software Centre (PSC) India plans to raise a loan of $3 million from the internal accruals of its parent company, Philips Electronics NV. This comes after PSC failed to raise capital through external commercial borrowings (ECBs) as India's ECB ceiling for 1997-98 has already been reached. The company has already been sanctioned around $1 million by its board for its expansion plans. PSC plans to set up its third software centre to cater to the requirements of the business electronics and medical systems division in the Philips group. In 1997, PSC posted revenues of Rs21.2 crore compared to Rs7 crore in 1996. In 1998, the total revenues are expected to be between Rs35 crore and Rs45 crore. (gsh)
Comment:
Philips Software Center of India plans to raise loan of $3 mil from internal accruals of this co
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ASPECT'S INDIAN ARM TO BE HUB FOR SOUTH-EAST ASIA
Article Abstract:
The $44 million Aspect Development Inc of USA has made its Indian subsidiary, Aspect Development India, as the hub for its South East Asian operations. The company will look after sales and support and product localisation for countries in the region. The US company's operations in Singapore, Thailand, the Philippines and Malaysia will come under Aspect India. By September 1998, a new office is expected to come up in Singapore, which will handle first level sales support. Operations in these countries will be addressed through Aspect's partnership with the enterprise resource package major, SAP. (gsh)
Comment:
Makes its Indian subsidiary, Aspect Development India, as hub for its South East Asian operations
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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MAGIC SOFTWARE HIKES STAKE TO 51% IN INDIAN SUBSIDIARY
Article Abstract:
Magic Software Enterprises Ltd of Israel has increased its equity stake in its Indian subsidiary, Magic Infotech India Pvt Ltd, to 51 percent from 15 percent. The Indian promoters of the company hold the remaining 49 percent stake. The company will offer training in Magic, a table-driven, engine-based cross-platform rapid application development and deployment system for client/server and Internet solutions within a few months at Bangalore, Mumbai and Pune. (khr)
Comment:
Magic Software Enterprises Ltd of Israel has increased its equity stake in its Indian subsidiary, Magic Infotech India Pvt Ltd, to 51 percent from 15 percent.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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