This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Leading Japanese Auto Captive Selects NetSol Technologies For Wholesale Finance System Implementation In Thailand

CALABASAS, Calif., March 19, 2013 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a worldwide provider of global IT and enterprise application solutions, today announced that it has signed an agreement to implement NetSol Financial Suite's Wholesale Finance System (WFS) module with a leading Japanese auto captive finance company based in Thailand. The new agreement marks NetSol's sixth major engagement win in Thailand.

Based on the concept of "one asset, one loan," NetSol's WFS facilitates asset tracking and costing, with features such as the Credit Request Management Module (CRM), Loan Management Module (LMS), Billing & Settlement Module (B&S), and Dealer & Auditor Access (DAS) Portal.

"This past year, Thailand achieved record sales and production, entering the world's top 10 auto manufacturing countries as a result of government subsidies for first-time car buyers, along with pent-up demand following natural disasters in the area. Even with the subsidies coming to an end, January sales were up 63 percent over the prior period, and the outlook remains solid," said Najeeb Ghauri, CEO of NetSol.

"As auto ownership increases domestically, and as more auto manufactures and auto captives continue their expansion in Thailand and into neighboring countries, we are poised to enjoy continued growth as the only provider of an end-to-end finance and leasing solution specifically tailored for local needs," Ghauri added. "In addition, the steps we took to build out a second service and delivery center in Bangkok have proven to be a strong differentiator for NetSol and a move that enhanced our ability to provide the best service and support to our customers in the region. I congratulate the team on their new win."

The name of the company and total value of the agreement were not disclosed as per the customer's request, although NetSol said the contract includes product licenses, business processes consultancy and on-site implementation services. Additional revenue streams include maintenance, support and product enhancements.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,719.92 -78.57 -0.44%
S&P 500 2,080.41 -9.70 -0.46%
NASDAQ 5,108.6660 -18.8590 -0.37%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs