Telecommunications and Safety Installation Construction and Servicing Ltd. Market situation of the Kft. The main activity of the Company is the construction, conversion and expansion of railway communication and railway safety systems. As regards our market position, we are market leaders in Hungary. We also deal with the construction of various cable networks (optical fiber and copper conductor cable) and of substructures, furthermore with fitting, measuring, replacing cables. In the frame of these activities we perform pre-assembly, production and planning tasks as well. We usually work on a turnkey basis. Our activity covers the entire country and we perform safety installations abroad (Czech Republic) as well. Our primary business partner is MÁV but we work also for other rail-guided transportation sectors, like: BKV HÉV, Metro, Underground. We participated in the installation of the electronic safety installations as the sub-contractor of Siemens or Alcatel. This problem rises mainly in case of MÁV projects, railway rehabilitation works financed from EU funds (ISPA) in which our Company undertakes a considerable part as well. We had to draw down loans several times to finance our expenses and the payments to the sub-contractors. But the fact that we do not own any real property makes the application for loans rather difficult. We dispose of all the professional references, which are stipulated in the public procurement tenders however we cannot individually participate in larger tenders because of the lack of the financial background. The utilization of EU Cohesion Funds, with the involvement of a financial or rather professional investor, may mean a brighter future for the Company with better perspectives.