UCrest gets 2 digital platform contracts worth RM6.1m

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KUALA LUMPUR (April 9): UCrest Bhd said its wholly-owned subsidiary Palette System Sdn Bhd has bagged two contracts worth RM6.1 million in total, for the development of digital platforms for Key Asic Pte Ltd.

The first contract is for the development of a virtual storage platform for iMedic with a total of 10,000 user licenses for 12 months, valued at US$993,658 (RM3.84 million). The second is for the development of the iMedic software and hardware platform for 15,000 user licenses per year, worth US$564,616 (RM2.18 million).

“The contracts are expected to contribute positively to the net assets per share and earnings per share of UCrest and its subsidiaries for the financial year ending May 31, 2018," UCrest, formerly known as Palette Multimedia Bhd, said in a Bursa Malaysia filing today.

The awards came on the back of a contract signed between Palette System and Key Asic in February, for the sale of 40,000 licenses for the iMedic platform for one year, as well as configuration works for the cloud platform worth US$838,993 (equivalent to RM3.27 million then).

UCrest shares rose 3.5 sen or 14.89% to settle at 27 sen today, giving it a market capitalisation of RM125.29 million.