Satyam Computer Services Ltd, India's fourth largest software exporter, on Friday announced the sale of $850,000 logistics solution software 'Project Genero' to a Malaysian company.

Announcing the deal at a joint conference with the company, Konsortium Logististik Bhd, Ramalinga Raju, Chairman Satyam Computer Services said this was a milestone development, not just in terms of the technological competencies, but also for the company's strategy to grow operations in Malaysia and the region.

"We are quite committed to this market place. We believe that there is enormous opportunity for the growth of business. We find government and economy here very responsive to the dynamics of market environment. This growth will be fuelled by the use of technology and knowledge based approaches," he said.

This is the first major business contract for Satyam since it firmed up operations in Malaysia April last year with the launch of a Global Development Center. The company expects a large growth from Malaysia.

"By the end of the current financial year we expects to earn around $2 million," Virender Aggarwal, Satyam's senior vice president, Asia Pacific, told reporters, referring to the company's Malaysian operations.

"We already have about 40 professionals based here and around 35 in India are dedicated to the Malaysian operations," Aggarwal said, adding that this will be further enhanced as the business increases.

The New York Stock Exchange-listed Satyam, which draws 98 per cent of its revenue from the global markets, believes the global economy is on a recovery path.

It has accordingly revised full-year revenue forecast to 18 to 20 per cent in dollar terms from the earlier 15 to 17 per cent estimate.

Satyam also believes that contribution from the domestic sector that currently stands only at about 2 per cent will also increase.

"As is the case with all developing countries, earnings from technology service sector are not high in India but the market is changing rapidly," Raju said.

Business in the Asia Pacific region last quarter was affected with the outbreak of SARS virus, said Aggarwal.

However, growth is now picking up and Malaysia, also because of its geographical location, provides good opportunity to serve the region, he said.

The new software solutions will let Konsortium view revenue/cost reports, and help its front-end customer integration to fleet management and back-office functions, further business expansion and reduce costs, said Konsortium Chairman, Mirzan Mahathir.

The system is robust, scaleable and flexible which will enable the company to meet the changing logistics need of the customers, said Mahathir.

Diversified activities of Konsortium range from container and conventional haulage, logistics coordination, warehousing and distribution, ports and customs clearance and heavy lift operations in Malaysia, India, Thailand, Indonesia and the Philippines.