KUALA LUMPUR (Oct 26): Shares in Edaran Bhd rose 47.62% in mid-morning trade today after bagging a contract worth RM149.97 million from the Royal Malaysian Customs Department for the enhancement of the latter's information technology (IT) systems.
At 10.58am, the stock rose 25 sen to 77.5 sen with some 10 million shares traded, making it the top gainer on Bursa Malaysia.
Yesterday, Edaran's stock climbed 30 sen to 52.5 sen — its highest level in five years — with 10.4 million shares traded. Its market capitalisation stood at RM30.4 million and it was a top gainer on the stock exchange.
On Tuesday, Edaran announced that the customs department had accepted its wholly-owned subsidiary Edaran IT Services Sdn Bhd's proposal to undertake the service continuity project of "Sistem Maklumat Kastam" for two years starting last month.
Edaran IT, a full-fledged IT services and solutions provider, was in 2015 appointed by the customs department as a national single window service provider.
Edaran's stock has risen 260.47% year-to-date.