MKI wins marketing rights to seismic centre

LOCALLY listed MKI Corporation has been awarded an exclusive marketing agreement for the Asia Supercomputer Research and Services Centre, located in Mongolia.

The centre is to supply seismic data processing for both private and government-owned corporations that are in the process of developing natural resources, particularly oil, as well as minerals and natural gas in Asia.

Seismic data processing can only be handled by a supercomputer and involves measuring the strength, duration and distance away of earthquakes and other natural phenomena as well as handling the vast amount of data collected during oil exploration.

The principal architect of the centre, Convex Computer International president Hector Hoyos, has forecast the centre's first-year gross revenue to be five per cent of Asia's total seismic processing business, or US$117 million (HK$904.4 million).

The current demand for the centre's services extends from central Asia, China, through all ASEAN countries, Vietnam, Burma and into South Asia.

The global market for seismic processing is estimated by Salomon Brothers at over US$3.5 billion a year. Asia's share of that represents 67 per cent of worldwide expenditure, equal to US$2.3 billion.

''This marketing agreement creates the technological infrastructure for all natural resource development in the region - the availability of these services will greatly advance the speed of the region's growth,'' said MKI's chief executive Khalid Hossain.