Infomina Thai unit secures US$28.44mil purchase agreement

KUALA LUMPUR: Infomina Bhd’s subsidiary Infomina (Thailand) Co Ltd (Infomina TH), has received a purchase agreement from The Siam Commercial Bank Public Company Ltd (SCB) to provide upgrade and transformation solutions to SCB’s core banking applications for US$28.44 million (RM125.14 million).

In a filing with Bursa Malaysia today, Infomina said the agreement was for the provision of technology application and infrastructure operations, maintenance and support services as well as to provide solutions to improve and implement SCBX Group Application Programming Interface gateway.

The SCBX Group’s businesses comprise banking business, consumer finance and digital financial services and digital technology group, the filing said.

"This is in line with SCBX Group’s strategy to transform beyond the fintech economy, over a period of three years commencing Jan 1, 2023 to Dec 31, 2025,” the filing said. - Bernama