Galasys (LON:GLS), the provider of ticketing systems and solutions to the theme park industry in Asia, has won two new contracts worth around £217,000. These contracts have been awarded by the Enchanted Kingdom in Laguna, the Philippines’ only world-class theme park, and the OCT group for its Window of the World theme park in Shenzhen, one of the oldest iconic theme parks in China.
The contract with the Enchanted Kingdom represents the first for the group in the Philippines. Galasys will provide its GSET and GPOS point-of-sales front-end to the Enchanted Kingdom. It will receive US$180,000 (around £111,000) for the provision of the system and from the second year onwards will receive an annual maintenance fee of US$40,000, which is worth around £24,666 at current exchange rates. “We have demonstrated technical merit and won the confidence from the Enchanted Kingdom’s owners and management team to replace their existing ticketing system supplied by an international ticketing system competitor.
The market for theme parks in the Philippines has strong growth prospects and this contract will provide an excellent platform to secure further contracts in the future. On the back of this, we expect further momentum as Galasys continues to expand its market coverage into other South East Asia countries,” said Sean Seah, chief executive of Galasys. The group has two contracts with OCT whereby Galasys will furnish the Galasys GSET Ticketing system and Online Ticketing module for Window of the World. Each of the contracts has a tenure of five years, with a total combined amount of RMB827,450, worth around £82,349 at current exchange rates. “The OCT group is one of the group’s key loyal clients and their confidence in our technology and services is reflected by our success in winning this contract from another international ticketing system competitor in the global market,” Seah said.
(Source: Proactive Investors.co.uk, 06 October 2014)
