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Head office: 6th Floor, Menara Atlan 161B, Jalan Ampang, 50450 Kuala Lumpur, Malaysia Tel: +603 2171 2200 Email: info@microlink.com.my; sales@microlink.com.my Other offices: Australia, Indonesia, Malaysia (7) Website: www.microlink.com.my Founded: 1994 Ownership: Public listed Number of staff: 130


the Microlink software, although it seems the roll-out did not happen. Microlink, meanwhile, was seeking other partners outside Malaysia, with the Gulf region cited as the main focus. Since the 2003 deal with Islamic Bank of Thailand, Microlink


has gained a number of other recruits for its system. In 2004, two Islamic banking takers were gained comprising Commerce-Tijari Bank (now CIMB Islamic Bank) and SME Bank. A further Islamic banking taker was gained in 2004, this being Islamic Bank of Brunei, now known as BIBD At-Tamwil. 2004 also saw Bank Rakyat upgrading to Mibs Release 7. 2006 was a bountiful year, with the supplier gaining wins for the system from Capital Bank of Sudan (now known as United Capital Bank), Amanah Raya Capital, International Leasing & Investment Co in Kuwait and a brace of Malaysian deals comprising Southern Bank (merged into CIMB in 2006) and Bank Persatuan.


In the fourth quarter of 2006, Microlink set up a joint venture with Kuwaiti firm Technology World Company (TWC) to support existing clients in the Middle East as well as to find new ones. An office in Kuwait was the result, and started with twelve people, six from Microlink and six from TWC. A Sudan office was also opened, with six employees, although by 2013 neither of these offices were listed on the Microlink website any longer. In 2007, the vendor won a deal for the Islamic finance specific version of Mibs at Sudan-based Bank of Khartoum. The bank took a package including Islamic financing, corporate financing, and Islamic trade finance. In a four-month selection process the vendor beat off competition from bidders from Malaysia, India and the Middle East. The system was scheduled for a six-month implementation. 2007 also yielded wins at home with Amanah Raya signing for Islamic Institution Trust Accounts and HDM Capital (a subsidiary of Hwang DBS)


taking Islamic financing. However, late 2009 brought setbacks for the vendor. Both its customers in Sudan selected Path Solutions’ iMAL through the course of the year, with Microlink’s presence in the Middle East apparently no more (bar its Kuwaiti customer, International Leasing & Investment Co). Microlink did not provide a comment on this.


Then in 2010 it became known that CIMB Bank in Malaysia was looking for a replacement core system, with Microlink looking set to be one of the incumbent vendors to suffer as a result of a new selection. It did, however, seem to be settled at CIMB Islamic for the time being. All has been rather quiet on the new signings front in recent years although Microlink does appear to have been fairly active in touting for business within the Indonesian market. Any tangible success from this, however, is yet to be seen, with one loss coming at the hands of Oracle FSS at the country’s oldest Islamic bank, Bank Muamalat. There has seemingly been a stay of execution for the vendor though at Bank Muamalat in Malaysia, which opted for iMAL in 2009 to replace Mibs, only to then reconsider in 2011 and select Temenos’ T24 instead. This, however, subsequently drew complaints from local vendor Silverlake and the decision to implement T24 was declared void. OneScreen, a brand new RIA (rich internet application) front- end, was soft launched in early 2009, first in Malaysia. The beta version followed in April 2009. Microlink intended to market it by itself. The market has been quiet for the vendor in 2010-2013 in terms of new-name wins. In 2012, Microlink bought four subsidiaries of Formis, a local IT integrator – Applied Business Systems, Formis Computer Services, Formis Systems & Technology, and First Solution – for MYR102 mn ($31.8 mn).


Islamic Report www.ibsintelligence.com 155


company details


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