The Group is principally involved in the business of providing customized software solutions for the banking industry. It has developed its own proprietary software packages, which address the operational and business needs of the banks and financial institutions. Its software solutions are customerised to meet the business requirements and to suit the operating system of each customer. It also provides network planning and integration services to install and implement the customesed software for its customers. Maintenance and enhancements services for its customerised software are also provided by the Group.
In November 2005, the company decided to acquire Silverlake's Banking Software Business. The board of Directors made a public announcement that the company has entered into a conditional sale and purchase agreement with Intelligentsia Holding Ltd to acquire the entire issued and paid up share capital of Silverlake Adaptive Applications & Continuous Improvement services Ltd ("SAACIS"). This strategic move will enable the company to expand the range of product and service offerings and geographical reach in order to enhance and diversify the revenue and earnings. The proposed acquisition was successfully completed in May 2006 and the SAACIS Group has become a wholly-owned subsidiary of the company.
With effect from May 2006, the Silverlake Integrated Banking Solution (SIBS) is owned by Axis Systems Holdings Limited Group. Silverlake Group remains as a key distributor for this product.
The acquisition of SIBS enables Axis Systems to provide an integrated banking solution, offering both the front-end and the back-end banking solutions. This allows Axis to expand its core business and at the same time enhance its value propositions to the customers. The Company changed its name to Silverlake Axis Ltd on 26 September 2006.
|Full Name||Silverlake Axis Limited||Stock No||5CP|
|Exchange||Singapore Exchange (SGX)||Board||Catalist-NS|
|Par Value (USD)||0.0200||Issued Shares (Mil)||2696.4730|
|Paid-Up Cap. (MYR Mil)||191.0410||Market Capitalization (Mil)||1159.4834|
|Share Price (SGD)|
|Share Price Performance(%)|
|100-day Average Daily Volume ('000)||949.98|
|Technical Indicators-A shapshot|