Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

ORCODA LIMITED Capital/Financing Update 2014

Dec 4, 2014

65482_rns_2014-12-04_4cdadab3-ddbb-4baf-9676-0e47c1ae0bce.pdf

Capital/Financing Update

Open in viewer

Opens in your device viewer

==> picture [273 x 44] intentionally omitted <==

SmartTrans secures agreement for new App with China’s first and largest

travel services provider¹

  • SmartTrans and China International Travel Service (CITS) execute agreement to build new travel App

  • Agreement lauded as great example of FTA’s success

  • App to utilise CITS’ travel products and SMA’s proprietary mobile payments platform to book and pay for all travel needs

  • SMA looking to tap into huge and growing outbound tourism market in China – 98.19 million tourists in 2013²

  • App will cater for inbound tourists from Australia – over 700,000 tourists last year²

5 December 2014: Mobile and online payments platform and logistics software provider SmartTrans Holdings Limited (ASX: SMA) (‘SmartTrans’ or ‘the Company’) is pleased to announce that it today executed an agreement with China’s oldest and largest travel services provider, China International Travel Service (CITS), for SMA to build and distribute an App and integrated online platform that will enable Chinese and Australian consumers to book and pay for travel services between the two countries.

The agreement was signed at a breakfast event today in Beijing, showcasing the new Free Trade Agreement (FTA) between Australia and China, attended by Australia’s Minister for Trade and Investment, The Hon Andrew Robb AO MP at which the agreement between SmartTrans and CITS was cited as a great example of the success of the recently revised FTA. The event was also attended by China International Travel Service Head Office President, Madam Yu Ningning.

CITS is a state-owned enterprise that was established in 1954, and is now the largest of its kind in China¹, with 122 agencies across the country and numerous subsidiaries in key regions globally, including Australia. It is reportedly the only tourism operator amongst the Top 500 enterprises in China.

SmartTrans will now collaborate with CITS to develop an App and integrated online platform that uses SMA’s mobile billing platform and distribution channels to allow travellers from China and Australia to book and pay for CITS’ travel packages, visa services, flights and hotel bookings, all from the convenience of their mobile telephone via SmartTrans’ mobile application.

The App will have SmartTrans’ unique mobile platform embedded, consolidating the wide range of billing and payment licences and agreements the Company has with its long established partners in China.

SmartTrans is expecting that this latest agreement will provide access to another solid and sustainable revenue stream for the Company, especially with increasing numbers of outbound tourists from China and growing numbers of inbound tourists from Australia with some 720,000 people visiting China in 2013[2] .

SmartTrans Chairman, Dr Geoff Raby (Australia’s former Ambassador to China), stated: “This partnership with CITS, a highly regarded state-owned enterprise, is a great mark of respect for our Company, our credibility and our technology.”

“SmartTrans will now work closely with CITS to develop this App and online platform, utilising our mobile payments platform to enable travellers between China and Australia to book and pay for their travel services.”

“We see this partnership, along with the unique consolidation of our multiple payment providers on to one platform as further examples of why our technology provides such a compelling turnkey solution to third parties wanting to do business in China, as well as Chinese businesses who wish to access global markets.”

“We are currently in negotiations with a number of such parties wanting to use our proprietary platform for these reasons and we look forward to updating shareholders on our progress in this regard in the near future.”

- ENDS -

1. Source: http://www.cits.net/about/ 2. Source: http://www.travelchinaguide.com/tourism/2013statistics/

Melbourne Sydney Beijing Level 1 Suite 37 101, Building 22, 10 Queens Road 401 Pacific Highway Courtyard 4 Gongti Bei Lu MELBOURNE ARTARMON Chaoyang District VIC 3004 NSW 2064 BEIJING CBD, 100027 Ph: (03) 9866 7333 Ph: (02) 9660 4564 Ph: +86 (10) 6500 0910

Further information please contact: About SmartTrans Bryan Carr SmartTrans Holdings Limited (ASX: SMA) is a leading Australian technology and software provider that Managing Director has developed a mobile and online billing and payment platform for the China market. The company has agreements in place with China Mobile, China Unicom, China Telecom CMPay, UnionPay and Alipay. With AUST: +61 412 111 968 the growing use of the smartphone as a billing device in China, the company is experiencing significant CHINA: +86 138 1188 8401 uptake of its technology in that market. SmartTrans has also developed cutting-edge proprietary logistics software which is used by some of Australia’s leading blue-chip organisations who have long term Media inquiries to: Ben Jarvis, contracts in place with the company. SmartTrans is assessing growth opportunities for its logistic offering Six Degrees Investor Relations: in China to complement its mobile and online payments platform. +61 413 150 448

Melbourne Sydney Beijing Level 1 Suite 37 101, Building 22, 10 Queens Road 401 Pacific Highway Courtyard 4 Gongti Bei Lu MELBOURNE ARTARMON Chaoyang District VIC 3004 NSW 2064 BEIJING CBD, 100027 Ph: (03) 9866 7333 Ph: (02) 9660 4564 Ph: +86 (10) 6500 0910