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Wipro solution goes live at DMCC
- United Arab Emirates: Wednesday, March 09 - 2005 at 13:11
- PRESS RELEASE
Wipro Limited, the leading Consulting and IT Services major from India has successfully implemented the Dubai Commodity Receipts (DCR) application for the Dubai Metals and Commodities Centre (DMCC).
"The role of Dubai as a commodity marketplace extends far beyond the borders of the United Arab Emirates, not only supplying the local market, but also to act as transhipment and staging point for the Middle East and more distant international markets. DMCC's mandate is to increase the value and volume of traded commodities in Dubai, having regard to this broad market scope," said Dr. David Rutledge the acting CEO of DMCC.
"In fulfilling its mandate, DMCC developed the DCR system as a value-added product in line with the needs of the growing market and its participants, both direct and indirect. The stakeholder's for this product include commodity trading companies, raw materials processors, logistics providers, storage/warehousing firms and banks. We are happy to have engaged Wipro for the design and implementation of the underlying Information Technology solution for the DCR System. Through the project, Wipro met our expectations on - domain knowledge, technical skills and implementation methodology" added Mr. Rutledge.
Mr. Rajat Mathur, Vice President-International Operations of Wipro said, "We are proud of our association with DMCC for this prestigious project. We are extremely committed to the region and successful completion of such marquee projects is just another way of reiterating that commitment to our customers".
Mr. Mathur added, "Wipro leveraged on the global delivery model for the execution of the project. We are delighted that this innovative product for commodity financing has been well received by the stakeholders. We look forward to our continued association with DMCC."
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Notes and media contacts
About DMCC:The Dubai Metals and Commodities Centre, a strategic government initiative, integrates the refining, manufacturing and trading of gold in Dubai, as well as introducing the trading of other precious metals such as platinum, palladium and silver. DMCC is facilitating the development and expansion of the regional precious metals market. DMCC is working with partners, regionally and internationally, to promote the highest global standards in product and service development, while encouraging greater transparency to the benefit of all market participants. DMCC's planned market infrastructure, including free zone status, secure vault facilities, purpose built refineries and workshops and assay facilities, will strengthen Dubai's position as the leading regional centre for gold and precious metals.
About Wipro Infotech
Wipro Infotech, a division of the US$ 1.35 billion Wipro Limited, provides enterprise customers with high value Information Technology products, Services, Solutions and IT Consulting Services in India, and provides Technology & Software Services and IT Consulting Services in the Asia Pacific and the Middle East. It is the world's first Products, Services and Solutions Company to be certified, Enterprise wide at Level 5, Version 2.0 of PCMM. Headquartered at Bangalore, Wipro Infotech serves customers in India through a network of 22 offices and 170 service locations across the country. It has business offices in the Middle East and Asia Pacific. Wipro Infotech has been rated No: 1 Network Integrator in India by Voice & Data Magazine for five years in succession from 1998-2002.
About Wipro Limited
Wipro provides comprehensive IT solutions and services, including systems integration, information systems outsourcing, IT enabled services, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level 5 certified IT Services Company globally. In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate segment in India offering system integration, network integration, software solutions and IT services. In the Asia Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations. Wipro also has profitable presence in niche market segments of consumer products and lighting. Wipro's ADSs are listed on the New York Stock Exchange, and its equity shares are listed in India on the Stock Exchange - Mumbai, and the National Stock Exchange, among others. For more information, please visit our websites at www.wipro.com, www.wiprocorporate.com , and www.wipro.co.in
Wipro's forward looking and cautionary statements
Forward-looking and cautionary statements Certain statements in this release concerning our future growth prospects and our ability to successfully complete and integrate potential acquisitions are forward looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding our ability to integrate and manage acquired IT professionals, our ability to integrate acquired assets in a cost effective and timely manner, fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, liability for damages on our service contracts, the success of the companies in which Wipro has made strategic investments, withdrawal of fiscal governmental incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. Wipro may, from time to time, make additional written and oral forward looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. Wipro does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.
For further information, please contact:
Agency Contact:
Prem Ramchandran
ASDA'A Public Relations
Exclusive affiliate of Edelman PR worldwide
Dubai, UAE
Tel: 00 -9714-3344550
Fax: 00 -9714-3344556
Wipro Infotech (Bangalore)
Radha Radhakrishnan
Group Marketing Manager
Wipro Infotech
Bangalore
Tel: 91-80-28440343
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