The Board of Directors of Silverlake Axis Ltd (“SAL” or “the Group”) is pleased to announce that QR Retail Automation (S) Pte Ltd (“QR”), the wholly-owned subsidiary of the Group, has secured a new contract to implement QR Cloud, its cloud-based retail automation solution, for an established Singapore retail chain. This will be QR’s first deployment of a Software-as-a-Service (“SaaS”) subscription version of its retail automation solution suite.
Metro (Private) Limited (“Metro”) will subscribe to QR Cloud services to deliver enhanced customer services and fulfill demand and supply chain operational efficiencies. This digital platform provides greater control and flexibility to accomplish Metro’s business goals in driving retail innovation. The QR Cloud SaaS will also be made available to Metro’s supply chain partners.
This contract is expected to contribute positively to the results of SAL in the current and following financial years. Pursuant to the confidentiality clause stipulated in the contract, no further details of the contract will be disclosed.
None of the directors or substantial shareholders of SAL has any interest, directly or indirectly, in the above contract other than through their respective shareholdings in SAL.
BY ORDER OF THE BOARD
Kwong Yong Sin
Group Managing Director
19 April 2018
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