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Silverlake Wins Digital Innovation Enhancement Contracts

08/27/2021 | 05:30am
Silverlake Axis Ltd. announced that it has secured contracts to deliver innovative and transformative digital innovation enhancement solutions to 28 of existing customers and a new customer during the fourth quarter of financial year ended 30 June 2021. The contracts are signed with 5 large regional banking franchises in Asean, 5 local banks and a government linked company and a financial service provider in Malaysia, 4 banks in Indonesia, 3 banks in Thailand, 2 banks in Vietnam, a bank in Brunei, China, Pakistan, Bulgaria, Kingdom of Bahrain and a large commercial bank in Slovakia respectively and 2 solution provider partners from Thailand and Bangladesh. The contracts are primarily for enhancements to existing core banking system and to enhance customers' digital experience and are expected to be completed within 8 to 18 months from the signing of the contracts. The Group's software solutions and services deployed for these contracts are from its subsidiaries, namely Silverlake Axis MSC Sdn Bhd, Silverlake Digitale Sdn Bhd, Silverlake One Paradigm Sdn Bhd, PT Structured Services, Silverlakegroup Pte Ltd, Silverlake Structured Services Sdn Bhd, Silverlake Structured Services Ltd., Silverlake Symmetri (Singapore) Pte Ltd, Silverlake Symmetri (Malaysia) Sdn Bhd, Cyber Village Sdn Bhd and SIA X Infotech. The contracts have an aggregate value of approximately MYR 90million and is expected to contribute positively to the results of SAL in the current and following financial years.
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