19 June 2007 – The Board of Directors of Nova MSC Berhad is pleased to announce that the Company’s wholly-owned subsidiary novaCITYNETS Pte Ltd (“NCN”), has been awarded a multi-million contract by the Building and Construction Authority of Singapore (“BCA”).
Under the contract, NCN will provide professional services to BCA to manage, operate, support, deliver and enhance the CORENET Electronic Submission System as a mission-critical electronic service to the construction industry and participating government agencies in Singapore for a total of approximately S$4.8 million (or approximately RM10.8 million) over a contractual period of 5 years plus an option to extend the contract for a further 5 years. In addition, NCN is granted the rights to market commercial value-added services, including training, consultancy, online promotion, channel and marketing, via the CORENET e-Submission System and NCN’s internet portal over the contracted years. The project is expected to contribute positively to the result of the Group over the contractual period.
None of the directors and/or substantial shareholders of Nova MSC Berhad or persons connected to the said directors and/or substantial shareholders have any interest, direct or indirect in the new contract awarded.
CORENET (Construction and Real Estate NETwork) is a major IT initiative under Singapore’s IT 2000 Masterplan driven by the ministry as well as BCA. The aim of CORENET is to re-engineer and streamline the fragmented work processes in the construction industry to achieve a quantum leap in quality, productivity and turnaround time. The CORENET project is unique because of its extensive collaboration with other public and private organisations.
The CORENET e-Submission System (eSS) is a Nation-Wide G2B and G2G framework built using Nova’s PAVO platform solution. eSS facilitates electronic submission and approval of all applications made to Government Agencies throughout the property development life cycle, which includes planning approvals, building approvals, structural approvals, temporary occupation permit (TOP), certificate of statutory completion (CSC) and fire safety certificate (FSC). In addition, eSS also allows public to apply for various types of permits and licenses on-line.
eSS brings about significant manpower and cost savings to both the industry and government agencies. Without eSS, the applicant needed to prepare different sets of physical documents and submit them to the relevant agencies manually within office hours. With eSS, the applicant can prepare and submit the same set of electronic documents to the relevant agencies in the comfort of their home or office at any hours.
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