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BlueStar SecuTech Inc
- BY: Andrew Hore |
- POSTED: 13/07/2009 |
BlueStar SecuTech Inc has opened its surveillance centre in conjunction with the Kaiyuan Company.
The digital CCTV technology company has an agreement with the Beijing police-related company Kaiyuan.
This company is the sole security provider for the financial sector in Beijing. It charges between RMB1,200/month and RMB1,700/month for each site and plans to pay BlueStar RMB400/month to run a surveillance centre. Each surveillance centre can cope with 5,000 sites and the potential market is 14,000 sites.
BlueStar says that monthly recurring revenues from several hundred financial outlets will begin soon. Annualised revenues from this contract could be worth around RMB15m (nearly £1.5m) a year by 2011.
BlueStar says that Shanghai and Guangzhou are interested in a similar service.
Shares in BlueStar rose 2p to 27.5p each, which values the company at £20m.
A final dividend of 0.5p a share is payable on 31 July 2009.
BlueStar reported profits of RMB20.9m on revenues of RMB157m in the year to March 2009. There was net cash of RMB85.2m at the end of March 2009.
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