For the rest of FY2019, the Group will continue to implement ongoing as well as new software licensing and implementation contracts secured in late FY2018 and 1H FY2019. As the Group delivers these projects over the next few quarters, progressive recognition of revenues will add to group revenues. The Group will continue to respond to new enquiries and requests for proposals to secure additional software projects.
“Following the recent expansion of the Group's suite of digital banking solutions, our marketing team has been actively cross selling these capabilities to existing customers. Such marketing efforts are expected to strengthen relationships with customers and broaden our revenue base,” commented Dr. Raymond Kwong, Managing Director of SAL. To serve its customers better, the Group is constantly looking to strengthen its capabilities and further expand its portfolio of Fintech and Insurtech software products by evaluating suitable opportunities for acquisition.
This press release should be read in conjunction with SAL’s Q2 and 1H FY2019 results announcement released on 14 February 2019 to the Singapore Exchange.
About Silverlake Axis
Silverlake Axis Ltd (SAL) provides technology and 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 & SIA X Infotech) and associate Finzsoft Solutions (listed on NZX), we have transformed and created value for over 380 customers and their ecosystems. Our geographical presence spans across Asia Pacific, Africa, Europe, Latin America 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
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