The improvement in business operations beginning in the second half of FY2018 continued into Q1 FY2019. “Notwithstanding the growing political and economic uncertainties around the world, we are still getting new enquiries and request for proposals. Our marketing and business development teams are actively responding to these enquiries and requests, and we are working to secure additional software projects in FY2019,” commented Dr. Raymond Kwong, Managing Director of SAL.
For the rest of the financial year, the Group will remain focused on the implementation of software contracts secured in FY2018 and earlier. Progressive revenue recognition from these projects are expected to contribute positively to group revenue in FY2019 and FY2020. With a comprehensive suite of digital banking solutions and core banking technologies, the Group is well-positioned as an innovation accelerator and value-added IT partner to help customers strengthen their capabilities to compete effectively in an increasingly competitive business environment. In addition, the Group will continue to undertake the selective acquisition of suitable companies to further expand its portfolio of Fintech and Insurtech software products and services.
This press release should be read in conjunction with SAL’s Q1 FY2019 results announcement released on 13 November 2018 to the Singapore Exchange.
About Silverlake Axis
Silverlake Axis Ltd (SAL) provides digital economy solutions to the Banking, Insurance, Payments, Retail and Logistics industries. Founded in 1989, SAL has built an impeccable track record of successful core banking implementations.
Together with our acquired subsidiaries (Merimen Group, Cyber Village, QR Retail Automation Group, Symmetric Payments and Integration, Symmetri Group, Silverlake Digital Economy, Silverlake Digitale, Silverlake One Paradigm) and associate Finzsoft Solutions (listed on NZX), we have transformed and created value for over 300 customers and their ecosystems. Our geographical presence spans across Asia Pacific, Africa, Central Europe and the Middle East regions.
Under Axis Systems Holdings Limited, SAL was listed on the SGX-SESDAQ on 12 March 2003. It was renamed Silverlake Axis Ltd in 2006 following the acquisition of SAACIS, the company that owns the Silverlake Integrated Banking Solution (SIBS) and the listing was transferred to the Mainboard of the Singapore Exchange on 22 June 2011. For more information about SAL, please visit www.silverlakeaxis.com.
Cyrus Capital Consulting
Mr. Lee Teong Sang
Tel: +65-9633 9035
Download pdf file