Datasonic bags Malaysia-Singapore entry point e-gate contract

Datasonic bags Malaysia-Singapore entry point e-gate contract
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KUALA LUMPUR (Feb 3): Datasonic Group Bhd has been awarded a facial recognition e-gate supply contract worth RM6.97 million by the Home Affairs Ministry.

The group said the contract is for the supply of the equipment, software and application for 16 units of foreigner e-gate with facial recognition system at the Malaysia-Singapore entry and exit point to the Immigration Department.

In a filing with Bursa Malaysia, Datasonic said it won the one-year contact, which starts on Feb 15, through an open tender participated by 18 companies last October.

The group said it is required to furnish a performance bond amounting to RM348,656 to the ministry for a two-year period ending on Feb 14, 2022.

Datasonic expects the contract to contribute positively towards its future earnings and net assets per share for the financial year ending March 31, 2020 (FY20) and thereafter, for the duration of the contract.

Shares of Datasonic closed two sen lower at RM1.44 today for a market capitalisation of RM1.94 billion, after 21.56 million shares exchanged hands.