26. GOH PENG OOI Flagship: Silverlake Axis Ltd Net worth: RM2.24bil
GOH is the major shareholder of Silverlake Axis and together with his team, the company has carved out its presence in the banking sector.
It has built an impeccable track record of successful core banking implementations since its establishment about 30 years ago.
Currently over 40% of the top 20 largest banks in
South-East Asia run on the company’s core banking solution. Based on the latest annual report, Goh is the group executive chairman of the company.
Today, it is the core system platform partner of choice for three of the five largest Asean super regional financial institutions.
He saw his wealth declined by 25% last year amid a tough business environment. In 2017, Goh, who is also known as Malaysia’s very first tech billionaire, was on the 20th spot of the country’s top 40 richest people.
Silverlake’s profit for the period attributable to owners of the company decreased by 84% year-on-year in the first half of 2018 compared with a similar corresponding period in 2017.
The company, which is listed on the Singapore Exchange mainboard, also saw its revenue dwindled by 3% in the same period.
This was caused by lower contributions from project related revenue segments like software licensing, software and hardware products sales, software project services and credits and cards processing. As of last year, the company’s market capitalisation
stood at S$1.13bil from S$1.52bil. Its share price at the end of last year was down to S$0.42 from S$0.58 in 2017.
Based on Silverlake’s latest annual report, it expects some of the positive business sentiments in the financial services industry to continue in FY2019.
By executing the order book of projects, the company hopes to record a significant growth in project related revenue this year.
Goh notes that Silverlake aims to secure additional projects from the pipeline that is currently under discussion.
He adds it is mindful of the potential headwinds that can be created from an expansion of trade tariffs and will continue to monitor and prepare to respond to these developments in a timely manner.