Friday 29 Mar 2024
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KUALA LUMPUR (Sept 26): Microlink Solutions Bhd has secured a five-year contract worth RM48.55 million from Koperasi Co-opbank Pertama Malaysia Bhd (CBP) for the upgrade of its existing MiBS core banking platform.

In a Bursa Malaysia filing on Monday (Sept 26), Microlink said its wholly owned subsidiary Microlink Systems Sdn Bhd has accepted a letter of offer from CBP, which entails two years of implementation and three years of maintenance and support, commencing in October this year.

"The offer letter is expected to contribute positively to the revenue, earnings per share and net assets per share of the group and is not expected to have a material effect on the gearing of the group for the financial year ending March 31, 2023 onwards until the expiry of the contract," it added.

In a separate statement, Microlink group chief executive officer Ramlee Abdullah noted the group has been CBP's trusted core banking partner and solution provider for more than 20 years.

As such, Microlink has in-depth knowledge of CBP's banking operations and its team is very familiar with CBP's working processes.

"With the upgrades enshrined in our new core banking system, we will be able to help drive CBP's banking operations into the digital era.

"We are delighted to be continuing our long-standing relationship with CBP and embarking on this new phase of digitalisation with them," he said.

The upgraded IT solution blueprint includes the digital banking enablement of mobile and internet banking, to deliver a new user experience and help expand the CBP customer base. In addition, new capabilities such as hire purchase, financing origination and micro-financing will form part of the enhanced platform.

Microlink's share price ended half a sen or 0.83% higher at 60.5 sen on Monday, bringing the group a market capitalisation of RM646.6 million.

Edited ByKang Siew Li
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