We have come a long way since our beginnings in 1989 with your support.
We made strides in both of our investee companies after laying
foundation for several years:
* This past year, SourceHOV Holdings Inc., a company in which our
wholly owned subsidiary in the United States, HOVS LLC holds
investment, completed merger with BancTec Group LLC. The combined
company is approaching billion in revenues and is a one of the
global leaders in financial transaction solutions and services,
healthcare services and administration of claims. SourceHOV with direct
sales and operations in 14 countries, provides solutions and services
to over 3,000 customers in 55 countries. The company with over 15,000
dedicated employees is strategically positioned to leverage its global
presence, multi industry solutions and services to grow in Americas,
Europe, Asia, Pacific and Middle East and North Africa.
* Our company, HOV Environment Solutions Private Limited, has been
involved in building artificial reefs to reduce erosion of beaches
where many communities across the world live and earn their livelihood
from the oceans. Our company, in India has successfully completed
building of breakwater in Cochin, Kerala and are building a
multipurpose reef at Mirya beach, Ratnagiri, Maharashtra. The company
specializes in using highly evolved 3D mathematical models to map the
floor of oceans near communities living on the beaches and use
underwater structures to shape the ocean floor with geotextile fabrics,
sand and tubes. Such artificial reefs not only help reverse the
devastating erosion effect having on the lives of people in these
communities, they also enable marine life to blossom and speed up
eventual transition of artificial reefs to natural reefs.
My message will not be complete without recognizing our employees,
their hard work and share their excitement and commitment to shape the
future of our Company for our combined benefit.
On behalf of Company''s Board of Directors, I would like to acknowledge
and thank each and every one of our HOVS family member for their
dedication to work, relentless efforts and support.
Our sincerest thanks to each and every Shareholder for your continued
support to management to accomplish new milestones and enhancing
We look forward for the continued support of our shareholders''.
Chairman & Executive Director