EN 
ZH Cartrack successfully listed on Johannesburg Stock Exchange
Seeks to further expand Asia Pacific business from its strategic hub in Singapore
Singapore, 19 December 2014 – Cartrack Holdings Limited (JSE: CTK.SJ), a leading fleet management, stolen vehicle recovery and insurance telematics group, officially commenced trading on the Main Market of the Johannesburg Stock Exchange (JSE) today. This follows a successful capital raise through a private placement of shares, giving Cartrack a market capitalization of S$300 million.
Founded in 2001 and headquartered in South Africa, Cartrack has grown into an established and reliable brand in the region; over the past decade, the company has positioned itself as a leading vehicle provider by establishing a presence in 18 countries across Africa, Asia and Europe Technology Solutions Group. In addition to its focus on fleet management and stolen vehicle recovery, Cartrack is one of the fastest growing companies in the global vehicle insurance telematics and software space. In 2015, Cartrack will enter and expand into more Asian markets from its strategic center in Singapore, supported by excellent local engineering and service. Existing customers and potential partners will benefit from growing global awareness and demand for telematics products, as well as continued demand for stolen vehicle recovery solutions.
"As Asia's key markets continue to grow, it is important to provide our partners with the most suitable and effective business solutions. We believe now is the time to enter the next phase of our growth - by providing the best possible solutions when entering new markets. Enhance Cartrack’s status and brand,” Cartrack Singapore CEO Evert Ong said of the group’s recent listing.
Ong then explains that the company’s successful international expansion is due to a clearly defined and proven expansion model: “Cartrack’s research and development is a key differentiator in our ability to successfully expand globally. Doing it in-house means we always Stay one step ahead and adapt quickly to market demands as needed.”
To date, Cartrack has a subscription base of over 415,000 users and has an audited stolen vehicle recovery success rate of 94%, even in markets with high crime rates. Cartrack is now offering customers an industry-first cashback recovery warranty in Africa, demonstrating its confidence in the capabilities of its technology platform, which combines fleet management and stolen vehicle recovery capabilities.
"Our leading technology, experienced leadership team and high-quality talent collectively are key to our competitive advantage. I am confident that we have the skills and passion to continue to deliver strong results as a public company, especially with the support of our local hubs. ” Ong added.
As manufacturing output increases and sales grow, coupled with increasing awareness of telematics within the industry, efficient fleet management, insurance telematics and vehicle recovery solutions are critical for those working in logistics, building and construction, retail and automotive Indispensable for maintenance companies. With Cartrack, partners can be confident they are equipped with a reliable, trustworthy telematics measurement solution - a key element in ensuring efficiency.
Seeks to further expand Asia Pacific business from its strategic hub in Singapore
Singapore, 19 December 2014 – Cartrack Holdings Limited (JSE: CTK.SJ), a leading fleet management, stolen vehicle recovery and insurance telematics group, officially commenced trading on the Main Market of the Johannesburg Stock Exchange (JSE) today. This follows a successful capital raise through a private placement of shares, giving Cartrack a market capitalization of S$300 million.
Founded in 2001 and headquartered in South Africa, Cartrack has grown into an established and reliable brand in the region; over the past decade, the company has positioned itself as a leading vehicle provider by establishing a presence in 18 countries across Africa, Asia and Europe Technology Solutions Group. In addition to its focus on fleet management and stolen vehicle recovery, Cartrack is one of the fastest growing companies in the global vehicle insurance telematics and software space. In 2015, Cartrack will enter and expand into more Asian markets from its strategic center in Singapore, supported by excellent local engineering and service. Existing customers and potential partners will benefit from growing global awareness and demand for telematics products, as well as continued demand for stolen vehicle recovery solutions.
"As Asia's key markets continue to grow, it is important to provide our partners with the most suitable and effective business solutions. We believe now is the time to enter the next phase of our growth - by providing the best possible solutions when entering new markets. Enhance Cartrack’s status and brand,” Cartrack Singapore CEO Evert Ong said of the group’s recent listing.
Ong then explains that the company’s successful international expansion is due to a clearly defined and proven expansion model: “Cartrack’s research and development is a key differentiator in our ability to successfully expand globally. Doing it in-house means we always Stay one step ahead and adapt quickly to market demands as needed.”
To date, Cartrack has a subscription base of over 415,000 users and has an audited stolen vehicle recovery success rate of 94%, even in markets with high crime rates. Cartrack is now offering customers an industry-first cashback recovery warranty in Africa, demonstrating its confidence in the capabilities of its technology platform, which combines fleet management and stolen vehicle recovery capabilities.
"Our leading technology, experienced leadership team and high-quality talent collectively are key to our competitive advantage. I am confident that we have the skills and passion to continue to deliver strong results as a public company, especially with the support of our local hubs. ” Ong added.
As manufacturing output increases and sales grow, coupled with increasing awareness of telematics within the industry, efficient fleet management, insurance telematics and vehicle recovery solutions are critical for those working in logistics, building and construction, retail and automotive Indispensable for maintenance companies. With Cartrack, partners can be confident they are equipped with a reliable, trustworthy telematics measurement solution - a key element in ensuring efficiency.
