KUALA LUMPUR (June 3): Datasonic Group Bhd has received a RM28.79 million contract from the government to provide maintenance services of card personalisation centres at the National Registration Department.
The contract is for two years commencing June 1, 2019, to May 31, 2021, with an option to extend the contract by another year.
In a bourse filling, Datasonic said its wholly-owned subsidiary Datasonic Technologies Sdn Bhd (DTSB) has received and accepted a letter of award (LOA) dated May 31, 2019, from the Home Affairs ministry for the contract.
“Under the terms of the LOA, DTSB is required to furnish a performance bond for the amount of RM719,642.16 to the Home Affairs ministry, with validity period commencing from June 1, 2019, to May 31, 2022," it added.
Datasonic said the contract is expected to contribute positively towards the group's future earnings and net assets per share for the financial year ending March 31, 2020 (FY20), and the financial years thereafter, for the duration of the contract.
Datasonic shares closed 1.5 sen or 3.3% lower at 44 sen today, for a market capitalisation of RM594 million. It saw some 1.96 million shares traded.