Infomina's Thai unit secures US$28m purchase agreement

KUALA LUMPUR (Dec 27): 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 on Tuesday (Dec 27), Infomina said the agreement is for the provision of technology application and infrastructure operations, maintenance and support services, as well as to provide solutions to improve and implement the SCBX Group Application Programming Interface gateway.

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

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