Silverlake Axis secured contracts to deliver digital innovation enhancement solutions to 65 of its existing customers during 4QFY2024 ended June 30.
The contracts have an aggregate value of approximately 110 million ringgit ($32.77 million) and are expected to contribute positively to the results of Siverlake Axis in the current and following financial years.
According to an Aug 23 note, the contracts are mainly signed with five “large regional banking franchises” in Asean; nine local banks; six banks in Thailand; three banks in Indonesia; two banks in Brunei; a bank in Bangladesh, Brunei, China, Czech Republic, Maldives, Slovakia, South Sudan, Sri Lanka and United Kingdom respectively; a Japanese consumer finance corporation; a pharmacy chain in Malaysia; and a Japanese retail chain with regional presence in Asia.
The contracts are primarily for enhancements to existing core banking system and to enhance customers’ digital experience, and are expected to be completed within 12 to 18 months fr;m the signing of the contracts.
The group’s software solutions and services deployed for these contracts are from its subsidiaries, namely Silverlake Axis 5CP 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 Sistem Sdn Bhd, Silverlake Holdings Sdn Bhd, Silverlake Symmetri (Singapore) Pte Ltd, Silverlake Symmetri (Malaysia) Sdn Bhd, Silverlake Digital Economy Sdn Bhd, Cyber Village Sdn Bhd, QR Retail Automation (Asia) Sdn Bhd and SIA X Infotech.
Pursuant to the confidentiality clause stipulated in the contracts, no further details of the contracts will be disclosed. According to the company, none of the directors or substantial shareholders of Silverlake Axis has any interest, directly or indirectly, in the above contracts other than through their respective shareholdings in Silverlake Axis.
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Shares in Silverlake Axis closed 0.5 cents higher, or 1.70% up, at 30 cents on Aug 23.
