RapidCloud International PLC Contract Win with RedBox, Air Asia (1972L)

TIDMRCI

RNS Number : 1972L

RapidCloud International PLC

24 April 2015

24 April 2015

RapidCloud International Plc

("RapidCloud", the "Company" or the "Group")

Contract Win with Redbox, Air Asia

RapidCloud International plc (AIM:RCI), the computing services, web-hosting and web-solutions provider based in Southeast Asia, announces that it has won a contract with RedBox, the award-winning courier service of Air Asia.

Contract Win

Under the initial five year contract, RapidCloud will design, build and operate a cloud-based Logistic Management System (LMS) for RedBox, AirAsia. The proprietary LMS will provide a complete end-to-end solution to monitor the entire shipment network with a fully integrated online Booking & Tracking portal.

RedBox, is the parcel delivery service wholly owned and operated by AirAsia, the low cost airline operating across the Asia Pacific region. RedBox is currently experiencing rapid growth with delivery contracts with several of the largest e-commerce enterprises in Asia Pacific. According to a recent industry forecast, consumers in Asia Pacific are expected to spend more on e-commerce purchases in 2015 than North America, making it the largest e-commerce market in the world at USD$681.2 Billion(1) .

As the selected technology partner, RapidCloud will provide bespoke system development consultancy with ongoing technical professional services. The LMS will be hosted and operated from RapidCloud's datacentre in Kuala Lumpur.

RapidCloud will derive revenue from this contract on a royalty basis from each transaction processed by the LMS. The Company envisages that the agreement will generate revenues for RapidCloud of at least GBP150,000 in the first year and increase thereafter.

(1) http://www.emarketer.com/Article/Global-B2C-Ecommerce-Sales-Hit-15-Trillion-This-Year-Driven-by-Growth-Emerging-Markets/1010575)

Raymond Chee, Managing Director of RapidCloud, said: "The ability to integrate RapidCloud's e-commerce system with this proprietary LMS will enable us to offer a more comprehensive and powerful e-commerce solutions to clients with enterprise-grade logistic handling capability. This will also enable RapidCloud to offer new e-commerce marketplace platform for various customers such as banks, insurance companies, telcos, government agencies and more. This enterprise deal is typical of the contracts we are now seeking, that deliver annuity-like revenue streams with greater visibility.

"RedBox is a fast growing business within a burgeoning market and we are delighted that we will play an important role in their ongoing success.

"We see clear opportunities to grow business within the e-commerce market."

Director Shareholding

The Group's Managing Director, Chee Han Wen (known as Raymond), has a total shareholding in the Company of 1,318,949 ordinary shares (not 1,318,999 as previously stated).

 
RapidCloud International                              [e-mail] 
 Plc 
 Raymond Chee, Managing 
 Director 
 David Cotterell, Chairman 
WH Ireland, Nominated Adviser                                        Tel: [phone] 
 and Broker                                                                         1666 
 Adrian Hadden 
 Mark Leonard 
Walbrook, Financial PR                                                Tel: [phone] 
 and IR                                                                             8792 
 Paul Cornelius                                                [e-mail] 
 Guy McDougall 
 

About RapidCloud

RapidCloud, provides computing services, web-hosting and proprietary web-solutions, such as web-site building and e-commerce solutions. The Company is based in Southeast Asia and is one of the few solutions providers in the region to deliver its offerings through all three available Cloud Computing segments, i.e. Software-as-a-Service, Infrastructure-as-a-Service and Platform-as-a-Service.

Formed in 1999 the Company has a well-established cloud offering with a customer base of over 42,000. These are predominantly SMEs but also include blue-chip clients such as Deloitte, BAE Systems and Canon, for which RapidCloud's extensive R&D department creates bespoke software solutions.

RapidCloud currently has operations in Malaysia, Indonesia, Singapore, Thailand and the Philippines. According to industry research commissioned by RapidCloud from Frost & Sullivan in 2013, the Cloud Computing industry in Asia Pacific is expected to grow at a CAGR of 49.6% between 2013 and 2015, giving a market size of US45.6 billion by 2015. RapidCloud International plc was admitted to AIM on 14 August 2013.

For further information, please visit www.rapidcloudasia.com

This information is provided by RNS

The company news service from the London Stock Exchange

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