www.thesundaily.com - KUALA LUMPUR (April 13, 2012): Microlink Solutions Bhd, a financial services technology solutions provider, is in advanced talks with an Indonesian bank to provide Islamic banking solutions, and expects to seal the contract by year-end, its executive director and CEO Peter Yong Kar Seng said.
The company is also in preliminary talks with five other banks there as it looks to the country to expand its business.
"We aim to leverage our expertise and experience in banking solutions, especially in Islamic finance, abroad. Our focus is Indonesia due to its big Muslim population," Yong told reporters after the company's AGM here yesterday. (source)
"We have to go through certain processes. Sometimes it might take a longer period. We have also approached five other banks in Indonesia, but talks are still in the preliminary stage. It is a long process and they need to issue a request for proposal (RFP)," he said.
Microlink has a representative office in Jakarta.
"At the moment, we do not have any customer in Indonesia. In any new market, (there is) a lot of learning involved and we have been in investment mode," he said.
"If we manage to secure the contract with the bank, it will be our first in Indonesia. We want to be prudent and careful. We want to put our solution there and start small. We will have revenue but it will be very marginal."
Some 90% of Microlink's revenue now comes from Malaysia, where it is eyeing contracts from non-bank customers like cooperative finance institutions and finance companies.
Source: - April 13, 2012
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