Silverlake Axis has secured contracts to deliver digital innovation enhancement solutions to 77 of its existing customers in 1QFY2023 ending June 2023.
The contracts have an aggregate value of approximately RM130 million ($39.13 million) and “are expected to contribute positively to the results of Silverlake Axis in the current and following financial years”.
The contracts are primarily for enhancements to existing core banking systems and to enhance customers’ digital experience, says the company in a Nov 15 Singapore Exchange filing. Silverlake Axis expects to complete these works within 12 to 18 months from the signing of the contracts.
Silverlake Axis provides digital economy software solutions and services to the banking, insurance, payment, retail and logistics industries.
The contracts are mainly signed with five large regional banking franchises in Asean, nine local banks, three banks in Thailand, two banks in Indonesia, three banks in Hungary and Pakistan respectively, a bank in Brunei, China, Colombo, Czech Republic, Maldives, Mongolia, Slovakia, Sri Lanka, United Kingdom and Vietnam respectively; a Thai consumer finance corporation, a large retail chain in Asia and a pharmacy chain in Malaysia.
The Group’s software solutions and services deployed for these contracts are from its subsidiaries.
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Pursuant to the confidentiality clause stipulated in the contracts, no further details of the contracts will be disclosed, says 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.
Shares in Silverlake Axis closed 0.5 cents higher, or 1.59% up, at 32 cents on Nov 15.
