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Pentagon Global Solutions Ltd.

BSE: 532314 Sector: IT
NSE: N.A. ISIN Code: INE968A01010
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
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Pentagon Global Solutions Ltd. (PENTAGONGLOBAL) - Chairman Speech

Company chairman speech

PENTAGON GLOBAL SOLUTIONS LIMITED ANNUAL REPORT 2000-2001 CHAIRMAN'S REPORT MESSAGE FROM THE CHAIRMAN 9th August 2001 Dear Shareholders, It is my proud privilege to report to our family of shareholders on the further progress made by our Company during the financial year 2000-01. In my last year's address to you, I had stated that our goal is to become a significant player in the field of IT education and software development. I am happy to note that during the year, all-round progress has been made in this direction and a solid foundation has been laid for a steady growth in the years to come. The Software Development Center in T. Nagar, Chennai that we took up last year was completed in September and became functional from October 2000. Apart from state-of-the-art facilities for software development and web- based jobs, we have a fully equipped multimedia and graphics department that can handle work in 2D & 3D animation, etc. To expand operations, accelerate growth and establish contact with clients, we have opened offices almost covering the entire globe, viz. US, Middle East, Singapore, Malaysia and Botswana, besides a joint venture operation in UK. This year marks a humble beginning in our efforts to maximize shareholder value. Accordingly, we have decided to pay a modest dividend of 6%. Besides, we have provided all relevant information to shareholders. We have adopted standard practices in corporate governance, details of which are given in the following pages. There is all-round apprehension that the slowdown in the US economy will adversely impact the prospects of the Indian software industry. I hasten to assure our shareholders that the Company has adopted a suitable strategy to tide over the situation by sourcing business from other countries and taking more offshore work. Besides, we are concentrating on such of those domain areas that are in demand. It is heartening to note that NASDAQ, in a special report on India, has remarked that our country is emerging as a global powerhouse, moving up the value chain. Commenting on our achievements, especially in the IT sector, it has commended that India is an exciting and remarkable story. Before concluding, I would like to record the yeoman services rendered by the great visionary, late Sri Dewang Mehta, President, NASSCOM, in putting the Indian IT industry firmly on the world map. After promoting Indian IT industry for its cost and quality advantages, he believed the time has come for India to create original technology which others would follow. With warm regards, T. Mahadevan