The Board of Directors of Silverlake Axis Ltd. announced that the Group has secured contracts to deliver innovative and transformative digital innovation enhancement solutions to 77 of existing customers during the first quarter of financial year ending 30 June 2023. The contracts are mainly signed with 5 large regional banking franchises in ASEAN, 9 local banks, 3 banks in Thailand, 2 banks in Indonesia, 3 banks in Hungary and Pakistan respectively, a bank in Brunei, China, Colombo, Czech Republic, Maldives, Mongolia, Slovakia, Sri Lanka, United Kingdom and Vietnam respectively, a Thai consumer finance corporation, a large retail chain in Asia and a pharmacy chain in Malaysia. The contracts are primarily for enhancements to existing core banking system and to enhance customers' digital experience and are expected to be completed within 12 to 18 months from the signing of the contracts.

The Group's software solutions and services deployed for these contracts are from its subsidiaries, namely Silverlake Axis MSC Sdn Bhd, Silverlake Digitale Sdn Bhd, Silverlake One Paradigm Sdn Bhd, PT Structured Services, Silverlakegroup Pte Ltd, Silverlake Structured Services Sdn Bhd, Silverlake Structured Services Ltd, Silverlake Sistem Sdn Bhd, Silverlake Holdings Sdn Bhd, Silverlake Symmetri (Singapore) Pte Ltd, Silverlake Symmetri (Malaysia) Sdn Bhd, Cyber Village Sdn Bhd, QR Retail Automation (Asia) Sdn Bhd and SIA X Infotech. The contracts have an aggregate value of approximately Malaysian Ringgit 130 million and 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.