The Board of Directors of Silverlake Axis Ltd (“SAL” or “the Company”) is pleased to announce that Cyber Village Sdn Bhd (“CBV”), a wholly-owned subsidiary of the Company, has secured a total of six contracts in 4QFY2016 and 1QFY2017 to deliver key components for customers’ Fintech initiatives.
The first of these contracts is for a large bank in Thailand. CBV will implement a new fintech platform, enabling the bank to reinvent its online banking services with enhanced web and mobile experiences for their customers. The next three contracts involve three major financial services groups in Malaysia, which are the Company’s existing customers. CBV’s Fintech solutions will enable these banks to offer digitized financial services centered on connectivity, simplification and personalization.
In the insurance sector, CBV secured two significant wins in the Malaysian digital insurance sector. One of the contracts involve delivering CBV’s internet and mobile self-service platform to enable the insurance company to enhance its service levels and to continuously interact and serve its policy holders through digital technology. The second contract is for a global insurance company to extend CBV’s platform for digital insurance claims processing and online sales acquisition offerings.
CBV’s capabilities and proven track record in enabling their clients to launch new and enhanced digital user experience offerings as well as partnering them in their Fintech transformation initiatives are affirmed by the award of these contracts.
The contracts are expected to contribute positively to the results of SAL in the current and following financial years. Pursuant to the confidentiality clause stipulated in the contracts, no further details of the contracts will be disclosed.
None of the directors or substantial shareholders of SAL has any interest, directly or indirectly, in the above contracts other than through their respective shareholdings in SAL.
By Order of the Board
Kwong Yong Sin
Group Managing Director
26 August 2016
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