Silverlake Axis Q4 net profit down 12% to RM59.1m

Singapore

FINTECH firm Silverlake Axis saw net profit fall 12 per cent to RM59.1 million (S$19.4 million) for the fourth quarter ended June 30, as the Covid-19 pandemic hampered the timely closing of deals, the firm said in its results release on Wednesday after the market closed.

Revenue for the quarter was down 17 per cent at RM156.8 million. Silverlake said the pandemic affected its ability to close deals in a timely manner "due to changes in customers' priorities" and the lockdown measures.