Bank Rakyat cancels LOI issued to Microlink

KUALA LUMPUR: Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) has cancelled a non-binding letter of intent (LOI) issued to Microlink Solutions Bhd to improve its core banking system.
The cancellation was due to a change in project requirements and specifications, the information technology solutions provider said in an announcement to Bursa Malaysia today.
Bank Rakyat had issued the LOI in July 2016, inviting Microlink to participate in detailed discussions that would cover the project cost, scope of work and timeline.
The company said it planned to seek legal advice on the cancellation.
Microlink, a member of the Omesti group, operates in three segments: business performance services, distribution, and services and system integration. — Bernama