Datasonic gets RM270.71 million contract from Home Ministry

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KUALA LUMPUR (APRIL 13): Datasonic Group Berhad’s wholly-owned subsidiary Datasonic Technologies Sdn Bhd (DTSB) has accepted a letter of award (LOA) from Kementerian Dalam Negeri Malaysia (KDN), for the supply of 9.96 million polycarbonate biodata pages to Jabatan Imgresen Malaysia (JIM) worth RM270.71 million.

In a filing with Bursa Malaysia, Datasonic said the contract is for a period of 46 months, from Feb 1, 2018 till Nov 20, 2021.

The company also said during the term of the LOA, DTSB is required to furnish a performance bond for the amount of RM3.53 million to KDN, from Feb 1, 2018 till Nov 30, 2022.

The contract is expected to contribute positively to the earnings and net assets of the group for the financial years ending Aug 31, 2018 onwards, Datasonic said.

The counter closed at 94.5 sen after rising 1.5 sen or 1.61%, on a volume of 2.45 million shares, giving the group a market capitalisation of RM1.275 billion.