6 March 2009 (Singapore)

ADX’s holding company, Melioris Private Limited (“Melioris”), has signed an agreement with Singapore Computer Systems (“SCS”) to be an ISV on Alatum, Singapore’s largest commercial grid computing service platform.  Alatum is formed following the Singapore Government’s award of Grid Service Provisioning project to SCS and Hewlett Packard Consortium in June 2008.  The award marked the start of grid services commercialisation and an industry-government partnership to promote wider grid adoption among organisations.

Software as a Service has been gaining widespread acceptance across different industries due to the change from CAPEX to OPEX, especially in the difficult operating environment due to the economic downturn.  The collaboration between Melioris and SCS will bring about a revolution in the delivery and usage of technology solution. Companies will enjoy the use of utility type charging models and therefore no longer need to buy technology solution.  ADX working capital management includes ADX-MAR, our 1^st party receivables management solution as well as ADX Collections, our 3^rd party collections and recoveries solution.

The success of Alatum is dependent on the Grid partners delivering cost effective, high value added services to the marketplace. Having Melioris’ ADX services on our Alatum platform allows us to provide mission critical SaaS application to clients. Melioris provides working capital management and receivables management solutions through a SaaS model which are highly needed in today’s economic environment. We are delighted to have Melioris as a key partner” said Mr Alvin Kok, Executive Vice President, SCS.

 “The agreement marks a significant milestone for ADX in the delivery of Software as a Service (SaaS) and the recognition of ADX as a leader in the delivery of SaaS service in the area of working capital management.  Our SaaS solutions which focus in the area of receivables helps clients to improve working capital, increase profitability, reduce costs and enhance governance. This collaboration with Alatum will give the necessary momentum for the mass marketing and distribution of our innovative and cost effective SaaS solutions across Asia. In addition, it will provide a strong partnership to deliver SaaS services to the government sector due to the strength of our partner.” said Mr Mak Chee Wah, CEO of Asia Debts Xchange.