10th Jul 2014 07:00
10 July 2014
Galasys PLC
("Galasys" or "The Group")
Green Laser Technology Sdn Bhd now renamed as Galasys GLT Sdn Bhd ("GLT")
Galasys PLC, a leading provider of ticketing systems and solutions to the fast growing theme park industry in Asia, is pleased to announce its wholly-owned subsidiary, Green Laser Technology Sdn Bhd is now renamed as Galasys GLT Sdn Bhd effective 8 July 2014.
GLT's principal activity is primarily designing and selling self-service kiosks and ticketing vending machines. The acquisition was undertaken in 2013 as Galasys believes it will provide the Group with greater control over the design and supply chain of self-service kiosks and ticket vending machines and gives the Group the opportunity to increase the Group's revenue from hardware sales and system integration services in China and South East Asia. GLT also serves a growing group of clients in Malaysia.
Commenting on the announcement, Mr. Seah, Chief Executive of Galasys, said:
"Having completed the acquisition in 2013, the name change to Galasys GLT Sdn Bhd is part of our strategy of building the Galasys brand globally and integrating GLT further into the Group. GLT has since the acquisition continued to secure contracts from existing as well as new clients and we look forward to cross-selling its products to other clients within the Group."
Enquiries:
Galasys PLC | + 6032858 9959 |
Teh Kim Seng - Non-executive Chairman Sean Seah - Chief Executive Officer
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Arden Partners | 0207614 5900 |
James Felix
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Optiva Securities Limited | 0203 137 1902 |
Jeremy King
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Newgate Threadneedle | 0207 653 9850 |
Adam Lloyd Heather Armstrong
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About Galasys
www.galasystec.com
Galasys is a leading integrated and modular amusement park solutions and services provider to premier amusement parks in China and South East Asia. Through its proprietary systems, the Group provides amusement park operators with the ability to sell, manage and analyse tickets, visitors, merchandise sales and other amusement park operations. It has been operating since 2005 and supplies solutions and services to 78 amusement parks in China and South East Asia as at the end of June 2014. The Group has invested more than 50 man-years in R&D and owns the intellectual properties to its software and systems.
The Group's first ticketing management system contract was awarded in 2005 by Chime Long Group. The Group currently employs 62 members of staff and exclusively retains 44 research and development staff provided by third party developers.
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