Silverlake (technical)

Silverlake: secures 3 new software and services contracts and one ongoing contract expansion totaling ~RM 135m. i) to implement an integrated Islamic Banking System for a new Islamic banking customer, ii) to carry out a new software and service for one of the largest credit card issuers in Thailand, iii) to provide an Integrated Provident Fund System for a new customer in Ghana, the group’s first contract in Africa, iv) contract expansion for an existing customer implementing the integrated banking system’s core banking solution in SE Asia. The contracts are expected to contribute positively to the group’s financial results in the current and next financial yrs. The stock trades at 15.1 x P/E. The counter has been trending up steadily over the past one year, and continues to make new 52 wk highs.