MICROLINK SOLUTIONS BERHAD
|Microlink Solutions Berhad Cancellation of Letter of Intent for Improvement/Enhancement of Bank Rakyat Core Banking System (Project).
The Board of Directors of Microlink Solutions Berhad (â€œthe Companyâ€) wishes to announce that the Company had on 14 February 2018 received a Letter dated 5 January 2017 from Bank Kerjasama Rakyat Malaysia Berhad (â€œBank Rakyatâ€) advising of its cancellation of its Non-Binding Letter of Intent [LOI] issued to the Company on 14 July 2016 (â€œCancellation Letterâ€).
The LOI had invited the Company to participate in detailed discussions relating to the improvement and enhancement of Bank Rakyatâ€™s existing Core Banking System. Details of the LOI were shared in the Companyâ€™s Announcement to Bursa Malaysia Securities Berhad dated 18 July 2016.
The Cancellation Letter thanks the Company for attending the discussions and for providing its proposals on the Project but advises that it will not be pursuing the discussions further with the Company due to a change of project requirements and specifications.
The Company intends to seek all advice, including but not limited to legal advice, on this matter.
This announcement is dated 19 February 2018.