Silverlake Axis Ltd
Corporate Presentation
February 2015
2
Disclaimer
This presentation may contain statements regarding the business of Silverlake Axis Ltd and its subsidiaries (the “Group”) that are of a forward looking nature and are therefore based on management’s assumptions about future developments. Such forward looking statements are typically identified by words such as ‘believe’, ‘estimate’, ‘intend’, ‘may’, ‘expect’, and ‘project’ and similar expressions as they relate to the Group. Forward looking statements involve certain risks and uncertainties as they relate to future events. Actual results may vary materially from those targeted, expected or projected due to various factors.
Potential risks and uncertainties include such factors as general economic conditions, foreign exchange fluctuations, interest rate charges and regulatory developments. Such factors that may affect the Group’s future financial results are detailed in our listing prospectus / circulars, listed in this presentation, or in the management discussion and analysis section of the company’s result report and filing with the SGX. The reader is cautioned to not unduly rely on these forward-looking statements. We do not undertake any duty to publish any update or revision of any forward looking statements.
The information contained in this presentation has not been independently verified. No representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Neither Silverlake Axis or any of its affiliates, advisers or representatives shall have any liability whatsoever for any loss arising, whether directly or indirectly, from any use or distribution of this presentation or its contents.
This presentation is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for shares in Silverlake Axis.
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Presentation Outline
Investment Merits
Business Overview
Major Developments
Results & Financials
Prospects
4
A leading IT software and services company in the high growth Asia Pacific Region - 40% of leading SE Asian banks use Silverlake’s software and services - 25 years track record of successful implementation of Silverlake’s enterprise software applications in over 150 customer sites with 100% success rate
Earnings turnaround with EPS growth in FY2011, FY2012, FY2013 & FY2014
Positive trends in banking industry Increasing need of a common core platform for regional banks as well as need to keep up with regulatory changes, compliance and competition
Strong balance sheet with net cash of RM334.3m as of 31 December 2014
Strong margins above most peers Strong EBIT margin with growth in SIBS licensing and maintenance & enhancement services revenue from new contracts
Key Points
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Presentation Outline
Investment Merits
Business Overview
Major Developments
Results & Financials
Prospects
Business Overview
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A leading long term value based provider of core banking, insurance, payment and retail solutions and application
services to major financial institutions, retailers and conglomerates in Asia since
1989
40% of leading South-East Asia banks use the Silverlake Axis Integrated Banking Solution (SIBS) to process their banking transactions everyday
100% success track record in delivering End-to-End Core Banking, Payment and Retail solutions implementation and enhancement, backed by strong management and key software development team
Provides proven, cost-effective and innovative front, middle and back office banking, payment, insurance and retail solutions
Business Evolution & Transformation
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FY 2014 Revenue RM500.7 mil
Licensing of Application Software
RM147.7 m
30%
Application Maintenance & Enhancement
Services RM210.3 m
42%
Sale of Hardware Products RM32.4 m
6%
Software Project Services RM71.8 m
14%
Credit and Cards
Processing RM19.5 m
4%
Insurance Processing RM19.0 m
4%
Sale of Hardware Products
Licensing of SIBS
RM90.6 m
61%
Branch Banking Maintenance
Sale of Branch Banking Solution
FY 2008 Revenue RM146.9 mil
RM19.0 m 14%
RM16.4 m 11%
RM20.9 m 14%
Sale of Branch Banking Solution
Branch Banking Maintenance
FY 2005 Revenue RM27.8 mil
RM19.4 m 70%
RM8.4 m 30%
2006 to 2009 2010 to 2014 2003 to 2005
Axis Systems Limited
(Listed on SGX in 2003)
Silverlake Axis Limited
(Post SIBS Acquisition 2006)
SSB, QR, Isis,
Merimen, CVSB & Finzsoft *
Acquisitions
2015 & Beyond
Delivery Channels & Branch Banking Solutions
Core Banking & Payments Solutions
Structured Software Maintenance & Project Services, Retail,
Logistics, Integration Software, Insurance, Mobility & Internet
Solutions
+ + +
Asia Pacific’s
Largest
Digital Economy
Solutions
Company
Digital Economy Transformation
Partnerships Across Asia and
Beyond
Note: Silverlake Solution Limited (SSB), QR Technology Sdn Bhd (QR), Isis International Pte Ltd (Isis), Merimen Group, Cyber Village Sdn Bhd (CVSB), Finzsoft Solutions Limited (Finzsoft) * Refer to SAL’s announcement on 18 December 2014 for entry into a lock-up agreement in relation to a full takeover offer for shares in Finzsoft Solution Ltd.
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Increasing Value Add to Customers
Time Series Recurring License Revenue
Annual Recurring Maintenance Revenue
Repeatable Project Implementation Revenue
Maintenance & Enhancement
Services
Project Services
Initial Software License
Software
Licence
Expansion/
Upgrade
Software
Licence
Expansion/
Upgrade
Software License
Growing Core Customer Revenues
Leading & Growing Market Share
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Silverlake Axis Has More Than 150 Customers Who Are Leaders in the Markets They Serve and Known for Their Products &
Services Innovation and Operational Excellence
LEADING MARKET SHARE
Core System Platform Partner of
Choice for 3 of the 5 Largest ASEAN
Financial Institutions
Over 40% of the Top 20 Largest
Banks in South-East Asia run on
SIBS
Anchor Customers in China, Japan,
Middle East, South Asia
EXPANDING MARKET SHARE
As of Jan. 30, 2015
As of Jan. 1, 2005
Silverlake Customer
Source: Bloomberg
Note: The list of prominent core banking vendors in each market changes when non-top 10 institutions are included
Prominent Core Banking Provider in Asia Pacific Market
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Country Prominent Core Banking Applications
Australia Internal/ Older proprietary, SAP, Oracle, Hogan
China Local/ Internal/ Older Systems, Temenos, TCS
Hong Kong Local/ Internal/ Older Systems
India Infosys, Oracle, TCS FNS
Indonesia Silverlake Axis
Malaysia Silverlake Axis
Philippines Silverlake Axis, FIS, Infosys
Singapore Silverlake Axis
South Korea Local core banking applications, Hyundai
Taiwan Internal and proprietary systems
Thailand Silverlake Axis, FIS
Vietnam Silverlake Axis, Temenos, Hyundai
Note: The list of prominent core banking vendors in each market changes when non-top 10 institutions are included
Source: Table 1 - Leading Core Banking Players in the Top 10 Bank Segments in 12 Asia/Pacific Countries, IDC Financial Insights, 2013
Leader in the IDC MarketScape Global Core Banking Survey
Based on the December
2014 IDC MarketScape
Global Core Banking
Survey*,
Silverlake is ranked as the
Leader in Core Banking
System based on
Capablities and Strategies
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*Note: Survey is done by IDC Financial Insights and is based on analysis
and buyer perception. IDC is a leading provider of data-driven research
and analysis in the Asia Pacific
Comprehensive Core Banking Solution
12
Silverlake Axis Integrated Banking Solution (SIBS)
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Board of Directors Profile
Goh Peng Ooi Founder & Group Executive Chairman Mr. Goh Peng Ooi was appointed as the Group Executive Chairman of Silverlake Axis Ltd (“the Company”) on 23 May 2006. Prior to that, he was the Non-Executive Chairman of the Company since 2002. He founded Silverlake Group in 1989 and has built it to become an established provider of cross industry high performance banking, payment and retail solutions .
Dr. Kwong Yong Sin CEO & Group Managing Director Dr. Kwong Yong Sin was appointed as the Group Managing Director on 1 November 2005. He was previously the Managing Director of Silverlake Corporation from 2001 to 2005 where he completed several key SIBS customer transformation projects. Prior to Silverlake, he was the Partner and Senior Vice President of Ernst & Young and Cap Gemini E&Y Consulting.
Y Bhg. Datuk Sulaiman bin Daud Non-Executive Director Datuk Sulaiman bin Daud was appointed a Director in 2003. He was a Director of the Agricultural Bank of Malaysia for two years and later became Chairman for eight years. Under his leadership, the Bank was transformed into a corporatised entity, today known as AGRO Bank.
Y Bhg. Tan Sri Dato’Dr. Lin See-Yan Independent Non-Executive Director Tan Sri Dato’Dr. Lin See-Yan was appointed a Director in 2003. Tan Sri is currently an independent strategic and financial consultant. Prior to 1998, he was Chairman and CEO of the Pacific Bank Group and for 14 years previously, he was the Deputy Governor of Bank Negara Malaysia (Central Bank of Malaysia).
Ong Kian Min Independent Non-Executive Director Mr. Ong Kian Min was appointed a Director in 2003. Mr. Ong is concurrently an Advocate and Solicitor practicing as a consultant with Drew & Napier LLC and a Senior Adviser with Alpha Advisory Pte. Ltd., an independent corporate advisory group providing advice to companies and businesses in the Asia Pacific region.
Lim Kok Min Independent Non-Executive Director Mr. Lim Kok Min was appointed a Director on 15 June 2006. He is currently the Chairman of IREIT Global Group Pte Ltd. He is the immediate past Chairman of Gas Supply Pte Ltd, the Singapore Institute of Directors, of Building & Construction Authority and of Senoko Power Limited.
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Key Management Profile
Wong Yok Koon Senior EVP, SIBS Core Solutions Ms. Wong is one of the pioneer employees and was instrumental in driving the Group’s core banking solution portfolio growth. She has over 25 years’ experience in core banking development and deployment at major regional and local financial institutions. Today, she continues to be responsible for core product development of Silverlake Axis Integrated Banking Solution (SIBS) particularly in cards and payments, and works with clients in their digital economy transformation.
Mary Yau Siew Moi Senior EVP, SIBS Core Solutions Ms. Yau has been a key driver in the Group’s growth over the past 25 years and is one of the pioneer employees. Under her leadership, she has grown and enriched the capabilities of the core banking solution portfolio particularly in lending solutions. She is currently responsible for core product development of Silverlake Axis Integrated Banking Solution (SIBS) and works collaboratively with the other entities in the Group to offer digital transformation propositions to customers.
Lau Siow Ling Senior EVP, Structured Services Ms. Lau has 28 years of IT industry experience in sales, marketing and operations, spending 16 years in IBM Malaysia before joining the Group. She was previously the IBM iSeries Country Manager. She is currently responsible for the Silverlake Axis Integrated Banking Solution (SIBS) Application Maintenance and Management business, whereby she engages with our clients in ensuring the smooth running of their daily business operations and keeping up with the dynamic industry changes.
Hoong Lai Ling Senior EVP, Administration & Finance Ms. Hoong is responsible for overseeing the Group’s financial and administrative functions. She has 23 years of experience in auditing and financial managerial positions. She is a qualified accountant from the Malaysian Institute of Certified Public Accountants and was trained in Pricewaterhouse Malaysia. Prior to her current role, she was an accountant at Silverlake System from 1996 to 2002. She is also a member of the Malaysian Institute of Accountants.
Jean Aw Peng Mei Senior EVP, Digital Enterprise Solutions Ms. Aw is responsible for driving the Group’s digital enterprise strategy by combining and creating digital solution propositions from our core and acquired businesses. She joined the Group in 2014 and brings 25 years experience in business and technology transformation of a number of global, regional and local banks. Prior to her current role, she was Vice President at OCBC Bank and was previously Director at Ernst & Young Advisory Services.
Lee Cheen Siong EVP, SIBS Channel Solutions Mr. Lee has been with the Group since 2000 focusing on the development and implementation of Branch Delivery and Channels Solutions at major regional and local financial institutions. Today, his focus is on channels convergence and
product development. He was appointed
as EVP in June 2012. Prior to his current role, he was the country manager for Silverlake Axis in Beijing, China. Mr. Lee has 18 years of experience in the banking software industry.
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Key Management Profile
Hidetoshi Neda Managing Director, Silverlake Japan Ltd Mr. Neda is responsible for the growth and expansion of Silverlake Axis Group’s business in Japan and joined the Group in 2009. In his 23 years’ experience in the Credit Card and Retail Banking industries, he played a lead role in the Japan credit card market by developing new credit card products, payment products and services. These business products were successfully implemented in MasterCard, Citibank N.A., Shinsei Bank, Tokyo Star Bank and SBI Group.
Sua Shii Huey Director, Cyber Village Sdn Bhd Ms. Sua joined Cyber Village in its founding year. She has more than 18 years business development and project management experience, specializing in e-commerce implementations and managing small to large enterprise scale e-business projects. Prior to Cyber Village, she was part of the team which set up the first image bank/stock photo company in Malaysia - Ultra Dimension and successfully signed up stock photo agencies in Singapore, Hong Kong and China.
Trevor Lok Theng Hey CEO, Merimen Group Mr. Lok is one of the pioneer employees of Merimen since 2002 and played an instrumental role in its early success. He is currently responsible for the overall strategy and operations of Merimen’s business and leading Merimen’s business development and expansion. Before assuming his current role in 2013, he actively led the development of Merimen’s insurance policy solutions. He has over 12 years of experience in insurance solutions and services industry.
Sanjeev Dhar Managing Director, Isis Group Mr. Dhar joined the Group in 2011 and is responsible for enterprise payment and integration technology platform business. He leads the R&D of “Implementable Architectures and Compliance”, and is responsible for managing Isis’ day to day operations, product development and technology strategy. Prior to joining the Group, he was Senior Vice President at Isis since 1996 where he spearheaded all product development. He has over 19 years of experience in banking technologies, financial systems and digital banking infrastructure.
Shieh Yee Bing Director, Cyber Village Sdn Bhd Ms. Shieh is one of the pioneer employees of Cyber Village since 2000. She focuses on Cyber Village’s large enterprise scale projects and development of key banking accounts. Today, besides overseeing Cyber Village’s day to day operations, she also leads product development with special focus on portal and internet mobile financial self-service solutions. She has over 18 years experience in e-business projects across financial services, logistics, and education industries.
Andrew Ooi Su Jin CTO, Merimen Group Mr. Ooi is responsible for the technical framework in which all Merimen solutions are built upon since the founding years. He assumed the role of Chief Technology Officer in 2013. Prior to Merimen, he worked as a Software Engineer in Sunway Workflow Automation (SWA), and was involved in the design and development of insurance automation systems. He has over 15 years of experience in insurance claim solution and services industry.
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Presentation Outline
Investment Merits
Business Overview
Major Developments
Results & Financials
Prospects
Acquisitions Made: 2010 - 2014
17
2010 2011 2013
In addition to broadening the Group’s income base, these acquisitions have added depth and range to the Group’s portfolio of software solutions and services to deliver and support our customers’ transformations initiatives to compete and profit from the digital economy
2014
Silverlake Solution Ltd
(Structured Software Maintenance & Project
Services)
Isis International
Pte Ltd (Enterprise Payment & Integration Platform)
Merimen Group (Insurance Claims & Policies Processing
Software as a Service ‘SaaS’ Platform)
Cyber Village Sdn Bhd
(Mobile & Internet Solution)
QR Technology Sdn Bhd
(Retail & Logistic Solution)
Finzsoft Solutions Ltd * (Solutions for Banks & Financial Institutions in
New Zealand and Australia)
* Refer to SAL’s announcement on 18 December 2014 for entry into a lock-up agreement in relation to a full takeover offer for shares in Finzsoft Solution Ltd.
Silverlake Axis Digital Economy Solution
18 *SCCIM: Silverlake Collaborative Capability and Intelligence Model
CORE
Solutions
Silverlake Axis
Integrated
Banking Solution
(SIBS) Silverlake Axis
Integrated Islamic
Banking Solution
(SIIBS)
Silverlake Axis
Integrated
Provident Fund
System (SIPFS)
Silverlake Axis
Card System
(SCS)
Silverlake Axis
Retail Merchandising
System
(PROFIT) Silverlake Axis
Insurance Solution
(MERIMEN)
CORE Integration
SIBS Delivery Service Processor
(DSP)
Enterprise to Enterprise Collaboration (SCCIM*)
SIIBS DSP Complement
(DSP-C)
Omni Channel Services
SCCIM.OS Social Network
Services
Technology Services
Industry Services
SCCIM.OS. Payment
SCCIM.OS. Data
Web
ATM
Branch Teller
& Sales
Loan
Origination
Contact
Centre
Collection
Self/ Kiosk
Service
Customer
Relationship
Management
(CRM)
Internet
Banking
Smart Mobile
Banking
eWallet
Mobile
Advertisement
Virtual Real
Super Mall
Augmented Reality
GeoGate
ICMS
Mobile
Mobile Loyalty
Programme
Identity Access
Management
Mobile Game
Mobile POS
Notification
Mobile Alert
Offers
Mobile Stock
Trading
Internet Mobile
Convergence
Mobile Apps
(iOS, Android,
Windows, BB)
Smart Devices,
Tablets and Web
Virtual Card
Online Share
Trading Personalization
eLoyalty
ePayment
eProcurement
Banking
eRemittance
P2P
Payment
Web POS Portals Express
Banking
The Silverlake Collaborative Architecture (CORE + SCCIM) drives our industry and cross industry solution roadmap for digital economy enterprises
Silverlake Axis Digital Economy Core Capabilities and Ecosystem Offerings
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Healthcare Ecosystem
Education Ecosystem
Hospitality Ecosystem
Merimen Software-As-A-Service Insurance
Platform
Insurers
Workshops & Repair Centres
Motor Part Suppliers
Loss Adjustors
Insurance Intermediaries
Cyber Village Mobile & Internet Solution
Isis Integration and Enterprise Payment Platform
Silverlake Axis Integrated Banking Solution (SIIBS)
Silverlake Axis Integrated Islamic Banking Solution (SIIBS)
Silverlake Axis Card Solution (SCS)
QR Retail Merchandising System (PROFIT)
Online Stores
Physical Stores
Warehouse
Digital Payment
Logistic
* Silverlake Collaborative Capability and Intelligence Model
Solicitors
Business Platform Capabilities
Islamic Financial
Institutions
Regional Financial
Institutions
Exchanges & Payment Gateways
Domestic Financial
Institutions
CORE
SCCIM*
Omni Channel Services
CORE Integration
Silverlake Axis Banking Ecosystem
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Cyber Village Mobile & Internet Solution
Isis Integration and Enterprise Payment Platform
Silverlake Axis Integrated Banking Solution (SIIBS)
Silverlake Axis Integrated Islamic Banking Solution (SIIBS)
Silverlake Axis Card System (SCS)
Islamic Financial
Institutions
Regional Financial
Institutions
Exchanges & Payment Gateways
Domestic Financial
Institutions
Core System Platform Partner of
Choice for Top 3 of the 5 Largest ASEAN Financial
Institutions
Over 40% of the Top 20 Largest
Banks in South-East Asia run on SIBS
100% Successful Implementation
Track In Over 100 Core
Institution Migrations In Asia & Middle East
Compliant in 20 Countries’
Banking Ecosystem (i.e. e-Govt, Financial Exchanges, Payment
Gateways)
HealthcareEcosystem
EducationEcosystem
HospitalityEcosystem
Insurers
Workshops & Repair Centres
Motor Part Suppliers
Loss Adjustors
Insurance Intermediaries
Online Stores
Physical Stores
Warehouse
Digital Payment
Logistic
Solicitors
Business Platform Capabilities
CORE
SCCIM*
Omni Channel Services
CORE Integration
Silverlake Axis Insurance Ecosystem
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Merimen Software-As-A-Service Insurance Platform
Primary markets are Malaysia, Singapore and Indonesia
Over 80 insurers, encompassing most major
international insurers and many bank-affiliated insurers, covering both
conventional and takaful operators
Over 4,000 automobile workshops and
repair centres
Over 25 major automobile brands
Over 250 loss adjusters and law firms
Over 3,500 insurance intermediaries
Insurers
Workshops & Repair Centres
Motor Part Suppliers
Loss Adjustors
Insurance Intermediaries
Solicitors
HealthcareEcosystem
EducationEcosystem
HospitalityEcosystem
Online Stores
Physical Stores
Warehouse
Digital Payment
Logistic
Business Platform Capabilities
Islamic Financial
Institutions
Regional Financial
Institutions
Exchanges & Payment Gateways
Domestic Financial
Institutions
CORE
SCCIM*
Omni Channel Services
CORE Integration
Silverlake Axis Retail Ecosystem
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QR Retail Merchandising System (PROFIT)
Online Stores
Physical Stores
Warehouse
Digital Payment
Logistic
16 installations across the fastest
growing markets in Asia: China, Malaysia, Philippines, Singapore, Thailand, Vietnam, Cambodia &
Indonesia
Over 45,000 Suppliers
More than 350 Retail Outlets
HealthcareEcosystem
EducationEcosystem
HospitalityEcosystem
Insurers
Workshops & Repair Centres
Motor Part Suppliers
Loss Adjustors
Insurance Intermediaries
Solicitors
Business Platform Capabilities
Islamic Financial
Institutions
Regional Financial
Institutions
Exchanges & Payment Gateways
Domestic Financial
Institutions
CORE
SCCIM*
Omni Channel Services
CORE Integration
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Presentation Outline
Investment Merits
Business Overview
Major Developments
Results & Financials
Prospects
24
1H FY2015 Results Summary
(RM Million) 1H FY2015 1H FY2014 % change
Revenue 240.9 226.4 +6
Gross Profit 158.0 136.2 +16
Pre-tax Profit 139.0 123.9 +12
Income Tax (7.7) (12.2) (37)
Net Profit 131.3 111.7 +18
25
Q2 FY2015 Results Summary
(RM Million) Q2 FY2015 Q2 FY2014 % change
Revenue 124.1 125.2 (1)
Gross Profit 82.4 77.4 +6
Pre-tax Profit 76.1 68.8 +11
Income Tax (4.4) (8.2) (46)
Net Profit 71.6 60.6 +18
26
Revenue by Business Activities
% change
+ 21% + 26% (36%) (78%) (2%) (10%)
123.4
71.9
27.2
1.69.7 7.1
102.0
57.1
42.2
7.3 9.9 7.9
0
20
40
60
80
100
120
140
Maintenance &
Enhancement
Services
Software
Licensing
Software Project
Services
Sale of Software
and Hardware
Products
Insurance
Processing
Credit and Cards
Processing
RM
' m
1H FY2015 1H FY2014
66%
58%
6%
55%
10%
60%
55%
49%
0%
10%
20%
30%
40%
50%
60%
70%
Gross Profit Margin Pretax Profit
Margin
Net Profit Margin Effective Tax Rate
1H FY2015 1H FY2014
27
1H FY2015 Selected Ratios
Dividend
Dividend (Singapore cents
per share)
First
Interim
Second
Interim
Third
Interim Final Special Total
FY2013 0.5 0.7 0.8 1.1 - 3.1
FY 2014 0.8 0.9 1.0 1.2 0.6 4.5
FY 2015 0.8 1.1* - - - -
* Second interim cash dividend is payable on 13 March 2015
28
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Balance Sheet
(RM millions) 31 Dec 2014 30 Jun 2014
CURRENT ASSETS 463.5 516.3
- Trade and other receivables 64.4 102.6
- Cash and bank balances 337.5 349.8
NON-CURRENT ASSETS 251.3 250.4
TOTAL ASSETS 714.8 766.7
CURRENT LIABILITIES* 85.6 115.0
NON-CURRENT LIABILITIES* 19.4 35.3
- Loans and borrowings 2.2 2.6
- Other payables* 1.8 17.3
SHAREHOLDERS’ EQUITY 609.8 616.4
TOTAL LIABILITIES & EQUITY 714.8 766.7
* The decrease in current and non-current liabilities and other payable as at 31 December 2014 was mainly due to the 3rd tranche payment for the acquisition of Merimen Group and lower accruals of sub-contractor fees
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Presentation Outline
Investment Merits
Business Overview
Major Developments
Results & Financials
Prospects
Technology Spending Drivers
31
Compliance Competition
• Mergers & Acquisitions • Strategic Alliances
Consolidation Cost Efficiency • Economies of Global
Processing Hubs • Improving Return on IT
Investment
• Basel 3 & AML • Major New
Regulations
• Regional & Global Competition
• Universal Banking Expansion (Conventional, Islamic, Micro-banking)
1
2
3
4
Core Banking Transformation
Delivery Channels Modernisation
Regulatory/Risk Compliance
Performance Management
Source: IDC Financial Insights Asia Pacific, 2013-2014
How new IT budgets will be spent…
BAU Projects
Singapore $4bn $1bn
Thailand, Indonesia, Malaysia combined $3bn $1.5bn
China $16bn $4bn
Australia $10bn $3bn
India $5bn $2bn
Currency: US$
Note: BAU: “Business As Usual” spending which generally falls under Bank’s Operating Expenditure category including Maintenance & Enhancement
9%
16%
30%
12%
28%
5%
Multi Channels & Distribution
Business Process Re-engineering
Core Refreshment/ Replacement
Enterprise Data Management
Governance, Risk & Compliance
Enterprise & Retail Payments
32
IT Budget Deployment 2013-2014
33
Thank You
Dr Raymond Kwong
CEO & Group Managing Director
Silverlake Axis Ltd
Meeting request, please contact:
Lee Teong Sang
Mobile: +65 9633 9035
www.silverlakeaxis.com