Microlink wins RM48.55mil contract from Koperasi Co-opbank Pertama

KUALA LUMPUR: Microlink Solutions Bhd’s wholly-owned subsidiary, Microlink Systems Sdn Bhd has received and accepted a letter of offer from Koperasi Co-opbank Pertama Malaysia Bhd (CBP) for the upgrade of its existing MiBS core banking platform worth RM48.55mil.

In a filing with Bursa Malaysia, Microlink said the contract was for five years with 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 Microlink 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 CBP contract,” it said.

In a separate statement, Microlink group chief executive officer Ramlee Abdullah said 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 added.