KUALA LUMPUR (Oct 26): Dagang Nexchange Bhd (DNex) has bagged a RM59.36 million maintenance contract from the Accountant General’s Department.

In a filing with Bursa Malaysia, DNeX said its 60%-owned subsidiary, Innovation Associates Consulting Sdn Bhd, accepted the letter of award today.

The tenure of the contract is from Aug 10, 2018 till Aug 9, 2019.

DNex said  the group will be responsible for the maintenance of hardware, software and network equipment of the Government Financial and Management Accounting System (iGFMAS), an accrual accounting shared services implementation.

Barring any unforeseen circumstances, the group said the project is expected to contribute positively towards the future earnings and net assets during the contract period.

Shares of DNeX closed down one sen or 2.74% at 35.5 sen, with 8.17 million shares done, for a market capitalisation of RM624.07 million.