Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily, on April 28, 2016.

 

KUALA LUMPUR: Datasonic Group Bhd has clinched a five-year contract from the home ministry to supply 13.42 million units of passport documents for a contract sum of RM223.38 million.

The secure identity and personalisation system solutions provider said its wholly-owned subsidiary, Datasonic Technologies Sdn Bhd, would supply the passport documents from Dec 16 this year to Nov 30, 2021.

Under the terms, Datasonic Technologies is required to provide a performance bond of RM2.23 million to the ministry.

“The contract is subject to normal business risks such as increase in costs due to any escalation of material costs and contractual terms, including default provisions.

“As such, the management would put in place control measures and operational procedures to reduce the impact or likelihood of such events,” it added.

Datasonic shares closed seven sen or 5.38% higher at RM1.37 yesterday, with a market capitalisation of RM1.77 billion

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