Freewill Group aims to surpass Bt1 billion in annual revenues within 2 years based on strong growth in its business and IT solutions

Freewill Group has announced its plan to grow 30% annually over the coming two years to reach a revenue target in excess of 1 billion baht in 2013. The revenue boost is expected to be driven primarily from three lines of service: Business and Technology Consulting (BTC) from Freewill Solutions, e-Marketplace services from Pantavanij and mobile technology solutions from Freewill FX. “We have seen an increasing demand for both business and technology consulting services in the second half of 2010” states Dr. Veera Veerakool, Group CEO. He continues, “We think this trend will persist as companies increasingly realize the importance of conducting thorough business requirements analyses prior to the adoption of IT solutions. Only then can the full value of technology investments be leveraged towards meeting corporate goals.” The primary engines of growth within the Group are seen to be as follows: • Freewill Solutions accounts for some 66% of current Group revenue. Within Freewill Solutions the single largest division is its BTC line of service, accounting for 57% of Freewill Solutions’ revenue. BTC services include the provision of business insights, business improvements, strategic change management and large-scale technology implementation projects based on global packaged solutions such as SAP and Oracle/PeopleSoft. “BTC has all the skills and experience of a global consulting partner, merged with the in-country knowledge and work-with-ability of a local partner” commented Dr. Veera. • Pantavanij is a B2B e-Marketplace provider with a distinctive position as an integrated e-trading medium. Despite a challenging economic environment, Pantavanij has greatly outperformed its budget this year: with an expected growth of 31% versus a budgeted growth of 17%. The company anticipates further 30% increments in revenue in each of the next two years. “Our B2B e-Marketplace, Pantavanij.com, has the advantage of bringing together a vast network of buyers and suppliers, integrating them through sophisticated e-Procurement solutions” explained Dr. Veera. • Freewill FX was founded as a network testing solutions provider for the operators of mobile telephone networks and the company has an award winning product named Azenqos in that space. More recently, FX has leveraged its core skills – that of developing mobile-based solutions – to help enterprises in areas such workforce and fleet management. The company has also leveraged state-of-the-art technology such as the iPad to deliver media with e-Publishing platforms. “I see huge market potential for enterprise mobile technology. Add to this that the publishing industry is turning toward e-Versioning and Freewill FX has significant room to grow and I expect it to grow fast” said Dr. Veera. He added “This year Freewill FX’s revenue will be three times higher than in 2009.” In addition to the three revenue generating service lines highlighted above, it should be noted that Freewill Solutions has a dominant market position in the securities/stock brokerage industry. As unequivocal market leader, its SMART brokerage applications are widely accepted by the majority of brokerage firms. Indeed, securities solutions generate around 40% of Freewill Solutions current revenue stream. In addition, Freewill Solutions has a significant presence as a provider of solutions to the non-life insurance industry with solutions that cover the whole spectrum of an insurance company’s core requirements: from underwriting to claims to back-office applications For media please contact: Suppata Bua-Aim Freewill Solutions Tel: + 66 (0) 2 689 4228 Fax: + 66 (0) 2 679 7474 E-mail: [email protected]

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