KUALA LUMPUR (Aug 22): Loss-making Nova MSC Bhd has bagged a software upgrade and maintenance job from Singapore's Urban Redevelopment Authority (URA), which is worth US$4.72 million (RM14.8 million).

This is the first job that Nova MSC has managed to clinch this year.

According to Nova MSC, the job requires it to maintain the Singapore authority's Development Application Exchange Systems for three years, starting from today until Jan 10, 2020.

The job, Nova MSC added, could be mutually extended and followed by a one-year warranty period and two years of maintenance services to be renewed annually.

"The contract is expected to contribute positively to the result of the group for the financial year ending March 31, 2018," said Nova MSC, a software solution specialist to manage government transactions and healthcare management, in a filing with Bursa Malaysia today.

Nova is chaired by Tunku Datuk Seri Nadzaruddin Tuanku Ja'afar, a mathematician and also the member of the Negeri Sembilan royal family.

A patron for Malaysia Futures Brokers Association, Nadzaruddin, via Raden Corporation Sdn Bhd and various other proxies, has a collective 18.12% stake in Nova MSC, according to the firm's latest annual report.

Listed on the ACE Market, shares of Nova MSC closed unchanged at 7.5 sen today, giving it a market capitalisation of RM51.24 million.