The Board of Directors of Silverlake Axis Ltd (“SAL” or “the Group”) is pleased to announce that the Group has secured a contract to assist in the digital transformation of an established consumer credit provider in Malaysia (“Provider”).
The contract involves replacing the Provider’s existing legacy systems with a new platform to streamline its consumer financing process, from origination to servicing through collections. The implementation of the new payments and lending digital platforms, IntelliPayz and IntelliLendz, is expected to be completed by next year.
The Group’s software solutions and services deployed for this contract are from its wholly-owned subsidiaries, namely Silverlake Digitale Sdn Bhd, Silverlake One Paradigm Sdn Bhd and Silverlake Axis MSC Sdn Bhd.
The 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
Andrew Tan Teik Wei
Group Managing Director
29 August 2019
