The Board of Directors (“Board”) of Silverlake Axis Ltd (“Company” and together with its subsidiaries, the “Group”) wishes to update its shareholders (“Shareholders”) that in the midst of the Covid-19 pandemic, the Company has taken measures to ensure business continuity and maintain its high level of service to all its customers during these uncertain times. Equally important to the Company is the health and welfare of its employees.
The Prime Minister of Malaysia has announced the Movement Control Order (“Order”) on 16 March 2020, effective from 18 March to 31 March 2020. Under the Order, all government agencies and private sector businesses will be closed except for those involved in essential services (water, electricity, energy, telecommunications, postal, transportation, irrigation, oil, gas, fuel, lubricants, broadcasting, finance, banking, healthcare, pharmacy, fire, prison, port, airport, safety, defense, cleaning, retail and food supply).
As banks are essential services and will remain open during this period, it is necessary for the Company to provide continuous support to its customers. While private companies will be closed from 18 to 31 March 2020, the Group has worked out alternative arrangements to support its customers by working off site. For all our customers globally meeting our service and contractual commitments are our utmost responsibility and we will support all activities such as projects, product development, maintenance & enhancement and back office functions will be performed remotely supported by online meetings or teleconferencing. In addition, the Group has a network of regional offices that will continue to play a key in supporting our regional customers.
The Board together with Group management are actively monitoring and responding to the ongoing and evolving impact of Covid-19 to the short and medium term prospects of our business and our people. A Task Force under our Risk Department has been established reporting to me and is responsible for implementing the necessary measures to protect our employees and clients to ensure operational and business continuity. Further guidance will be issued by the Task Force in response to the evolving situation.
We will make further announcement as and when there are material developments.
By Order of the Board
Andrew Tan Teik Wei
Group Managing Director
17 March 2020
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