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PeopleSoft sees strong Asian sales continuing

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CIOL Bureau
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Jennifer Tan

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SINGAPORE: Leading e-business software maker PeopleSoft Inc said on Monday

that it expects the 45 per cent growth seen in its Asian revenues for the first

quarter to be sustained for the rest of the year. PeopleSoft's (international

operations) executive vice president Guy Dubois, told Reuters in an interview,

that sales of its e-business software in the Asia Pacific region were expected

to grow faster than its other markets.

"Our pipeline of projects in Asia is very strong and is continuing to

get stronger, so we believe this growth rate can be sustained. In this tough

environment of an economic slowdown, we are already doing better than others,

and with a better economy, we can deliver more and be even better," he

said.

The California-based PeopleSoft last month posted a net income of $36.06

million for the quarter ended March 31 which beat Wall Street estimates. Dubois

said Asia's sales growth was driven by factors such as the de-regulation of the

telecommunication and banking industries in a number of countries in the region.

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"A lot of governments are developing programs aimed at more

transparency, deregulation of telecom and banking sectors, and privatisation of

state-owned companies." PeopleSoft hopes to derive 50 per cent of its

revenues from markets outside the United States in the next two years, with the

remainder coming from the US market, Dubois said.

Currently, markets outside the United States account for over 35 per cent of

PeopleSoft's total sales, while Asia Pacific contributes 15 percent to group

revenues. "The Asia Pacific region, which is growing at a faster rate than

the US, contribute more and more to revenue growth for the group," he said.

PeopleSoft is currently targeting the markets of Hong Kong, Taiwan, China,

South Korea, Singapore, Thailand, Malaysia and Philippines, he added.

(C) Reuters Limited 2001.

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