Silverlake Axis Announces Group Managing Director Retirement and Succession Plan

Singapore, 5 April 2019– Singapore Exchange Mainboard listed Silverlake Axis Ltd (“SAL” or the “Group”) announced today that Dr Kwong Yong Sin (“Dr Kwong”) will retire as SAL’s Group Managing Director effective 30 June 2019.


"On behalf of the Board, I would like to thank Dr Kwong for his contributions as Group Managing Director,” said Mr Goh Peng Ooi, Group Executive Chairman (“Chairman”). “During his tenure, the Group has transformed its business portfolio, expanded globally and enhanced its position as a financial technology leader.”


"It has been an honor to serve this dynamic company as Group Managing Director since 2005, and I am extremely proud of the value we have created for our customers and shareholders," said Dr Kwong. "I want to express my deep appreciation for the opportunity to work with our visionary Chairman, distinguished Board as well as our talented and dedicated colleagues.”


Dr Kwong will continue to serve on SAL’s Board of Directors (“Board”) and take on the role of Senior Advisor to the Board and Group Managing Director. He will also transition to lead SAL’s Strategic Digital Value Program to accelerate the growth and value creation of the Group’s Digital Ecosystem Platforms starting with the launch of Fermion, ASEAN’s 1st Insurtech Ecosystem Platform. This is one of the Disruption and Demand Platform initiatives to realise synergistic value from the combination of the Group’s digital assets and capabilities.


The Board has appointed Mr Andrew Tan Teik Wei (“Mr Tan”) to succeed Dr Kwong as SAL’s Group Managing Director from 1 July 2019. Mr Tan joined the Group in April 2018 as Managing Director, Core Banking to grow and enhance the Group’s core banking business. He has over 35 years of experience where he held senior positions in the Big 4 professional services firms and in a number of multinational IT companies, serving clients in the financial services, industrial/retail, telecommunications, energy and public sectors. Prior to joining the Group, Mr Tan was Managing Director for SAS Malaysia.


Detailed announcements on the above, pursuant to Rule 704(7) of the SGX-ST Listing Manual, are released separately via the SGXNet on 5 April 2019.


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 an impeccable track record of successful delivery of innovative and transformative solutions to its enterprise customers and their ecosystems. The Group has more than 380 enterprise customers in over 80 countries across Asia, Middle East, Europe, Africa, Central America, Australia and New Zealand.


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.



Contact

Cyrus Capital Consulting
Mr. Lee Teong Sang
Principal Consultant
Tel: +65-9633 9035
E-mail: teongsang@cyrus.com.sg

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