Prior to its acquisition by Praemium in September 2012, the information technology company was pursuing compensation for breach of contract by a former customer.
The matter was determined by the Hong Kong International Arbitration Centre, with the court ruling in favour of Praemium.
A determination on costs has been reserved by the arbitrator for further consideration.
Praemium also announced yesterday that its subsidiary, Praemium Asia, has entered an agreement with Dah Sing Bank to provide software utilising WealthCraft’s customer relationship management, workflow and financial planning modules.
Praemium chief executive Michal Ohanessian said Praemium is delighted to be assisting an institution like Dah Sing Bank to expand its wealth management proposition.
“Our client-centric WealthCraft solution will enable Dah Sing Bank to manage its clients in an integrated, visible and scalable way,” said Mr Ohanessian.
