NCS gets tongues wagging

Hoa Lac NCS software research and development centre project, of NCS Technology Joint Stock Company, was considered of great importance to materialise the company’s commitment for production scope expansion, technology innovation and product-service diversification.

Despite being licenced in November 2010, the project is yet to get off the drawing board.

In a recent talk with VIR, the company’s chairman Dao Xuan Anh affirmed the company was certain in the project’s implementation, despite facing many hardships.
“At this point, our company signed a design consultancy contract and within this year will start work on the project.”

Anh attributed delayed software research and development centre project to Vietnam’s economic vulnerabilities in 2011 and the fact that the company’s operations were badly influenced by Japan’s tragic earthquake and tsunami in early 2011, as NCS handled software outsourcing services for this market.

“The company’s business is much better now. Our nine-month results surpassed projections and the leadership envisages re-starting listing plan,” Anh said.

Earlier, according to NCS’s 2011 annual report released in July, 2012 the company will carry out NCS software project after raising money from auctioning its shares to the public. In fact, NCS did not succeed in the much expected auction.

NCS reportedly intended to spend around VND69 billion ($3.3 million) from the sum raised from the auction to pump into five projects on bettering NCS eLearning solution and providing supplemental investment to eLearning services, its restructuring plan, developing added value services on 3G background, building a software research and development centre at Hoa Lac Hi-tech Park and supplementing working capital.

NCS is not unique with its project’s delay in the Hanoi hi-tech park. Hoa Lac Hi-tech Park Authority gave warning to Tinh Van Corporation’s digital content centre building project, Misa Company’s ICT item production and computer software research and development centre project or VNG’s added value services and software production centre project about their slow progress.

Besides difficulties due to the economic slump, firms claimed the slow pace in site clearance and infrastructure investment at the hi-tech park led to delay of their projects.