Technology

The Company’s subsidiary Matchtip Limited is a developer of software applications for use in the mobile telecommunications industry. SIMecho™ is Matchtip’s initial product for management of data located on a SIM card, providing advanced technology that delivers security and management of SIM-based data, initially the phonebook, to network operators and their customers.

Development of the SIMecho product is being carried out by a team of I.T. Consulting specialists located in Mumbai, India. Marketing of the product has been successful in that it has attracted the interest of major international SIM card users. 

One such potential customer initiated an extensive operational test program for the product. The Company’s technical consulting team worked closely with that party to develop the product to their specified requirements and provide back up during the testing program. At the end of 2007, testing of the SIMecho system was suspended by the potential customer pending a decision on the future use of the system. The agreement that was being negotiated has yet to be finalised.

Takoradi continues to retain the I.T. technical team in India to provide services for further development of the system and assistance in the marketing of the product.

It is expected that Matchtip Limited and the technology investment will be divested in due course.