Purchased 16,500 shares of Silverlake Axis at a weighted average of 0.55 per share (after commission) today. Brief description of Silverlake Axis Silverlake Axis's main competency lies in the core banking system industry. It produces a software which is used to run the operations of banks. After a bank purchases it, Silverlake helps to maintain the software and charges a recurring annual maintenance fee to the bank. As the core banking system is a critical system for the bank, there is a high risk and high cost nature involvedif banks switch from one core banking system product to another. Hence, this is where Silverlake's business moat lies. It is difficult for customers to switch out. Based on my guess estimate, banks will only change these system about every 20 years or never at all. Customers Silverlake customers are mainly in Malaysia and Singapore. Main Customers are CIMB, Hong ......