By Francis Chan

THE Infocomm Technology (ICT) sector was one of the biggest growth stories for corporate Singapore over the last decade.

Official figures show that revenue for the local ICT sector jumped from about $20 billion in 1998 to over $54 billion in 2007. As demand from global export markets begins to wane, however, local ICT exports - which made up 65 per cent of revenue in 2007 - will no doubt take a hit.

However, International Enterprise (IE) Singapore believes these tough times, with the financial industry in the eye of the storm, mean other opportunities will open up for small- and medium- sized enterprises (SMEs) in ICT.

'In the current downturn, financial institutions are trying to strengthen their fundamentals and build up momentum again,' said IE Singapore assistant chief executive Yew Sung Pei.

'ICT will no doubt play an important role during this process, which creates opportunities for our companies.'

To help tap into those opportunities, IE Singapore is promoting the solutions and services developed by Singapore-

based ICT firms to the global financial services industry, and matching them with specific partners and customers.

Efforts include organising overseas missions, helping SMEs participate at trade fairs and bringing in global buyers to Singapore to meet locally based ICT firms, said Mr Yew.

'The recent Asian Financial Services Congress, for instance, was an excellent avenue where ICT companies met potential clients from global financial institutions,' he said. He was referring to the event organised by research and advisory firm Financial Insights last week.

At this year's affair, a Singapore pavilion was set up jointly by IE Singapore and the Infocomm Development Authority of Singapore.

Eight SMEs showcased their product offerings under the Infocomm Singapore brand at the pavilion, including local ICT companies such as RadianTrust and Asia Debt Exchange (ADX).

These two companies took the opportunity to launch their latest innovations for the year - ICT solutions for financial institutions to address key issues such as risk management, compliance, outsourcing, alternative service delivery and security.

Protecting information

LOCAL information technology security services specialist RadianTrust rolled out ID-Trace - a first-in-the-world steno-

graphy-based document security system that embeds traceable information in documents.

'Paper is a medium which staff can use to leak or exploit sensitive information,' said RadianTrust general manager Tang Weng Sing.

'Let's say the document is an invention disclosure, an innovation that a company has spent two years of research and development on, and the document contains a description of an innovation they are filing for patent.

'Before they can file for patent, however, someone prints and leaks it. The impact will be disastrous.'

RadianTrust's ID-Trace is able to inject hidden information into the document - user identification, date and time of printing, and the machine it has been printed from - at the point of printing.

Using a proprietary stenography technique - what Mr Tang describes as 'the art and science of hiding information' - ID-Trace can help firms track down unauthorised information-sharing and lower the cost of securing documents.

Improving cash flow

WITH firms increasingly having to deal with bad debts in the downturn, ADX has a new service that may help businesses turn their debts into cash.

ADX has been helping companies improve cash flow and working capital management to increase profitability through its Web-based receivables management services.

With its latest Debts Sale and Buying service, ADX can now help firms seeking to offload their delinquent and distressed debt portfolios to third-party debt-buyers and private equity companies.

According to ADX chief executive and co-founder Mak Chee Wah, the Debts Sale and Buying service allows the sellers to get as many third-party debt-buyers and private equity firms as possible to bid for their debt portfolios. It also allows the sellers to secure the highest bids possible.

At the same time, it provides an avenue for third-party debt-buyers to access more debt sale opportunities, he added.

Said Mr Mak: 'We provide an excellent platform by helping them access needed working capital and enhancing their cash flow through selling their delinquent portfolios on our ADX exchange.

'Our platform will allow our clients to get the highest value for their debt portfolios through wide participation in the exchange.'

IE Singapore is stepping up efforts to export Singapore's ICT expertise from companies such as RadianTrust and ADX to financial sectors overseas.

Mr Yew said: 'This shows that there is continual innovation from our companies as they seek business opportunities in the international arena.'

This article was first published in The Straits Times.