The Board of Directors of Silverlake Axis Ltd (“SAL” or “the Group”) is pleased to announce that Silverlake Symmetri (Singapore) Pte. Ltd. (“Silverlake Symmetri”), a wholly-owned subsidiary of SAL, has secured 4 contracts in 2H FY2019 to provide software upgrades, implementation and maintenance services to its Core Banking and Card customers.
The first of these contracts is for an established Pakistan Islamic bank. Silverlake Symmetri will upgrade the bank’s existing Silverlake Symmetri Core Banking System to the latest version which will allow the bank to scale-up as a full-fledged Islamic bank in the future. For the second contract, one of the leading banking groups in Central Europe has signed with Silverlake Symmetri to extend the maintenance and implementation services for their Core Banking software.
The next two contracts, with a large bank in Maldives and one of the leading banks in Pakistan, are to upgrade their Silverlake Symmetri OmniCard Solution Suite to the newest version which will allow them to offer new products and services to customers and be compliant with latest requirements of international card schemes.
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 with the customers, 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
Andrew Tan Teik Wei
Group Managing Director
10 July 2019
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