Edaran bags IT service provider contract from Customs Department

-A +A

KUALA LUMPUR (Aug 19): Edaran Bhd has been appointed as a National Single Window (NSW) service provider by the Royal Malaysian Customs Department.

In a filing with Bursa Malaysia today, the information technology company said it secured the job via its wholly-owned subsidiary, Edaran IT Services Sdn Bhd (Edaran IT).

It said the appointment as the NSW service provider is subject to the issuance of the Certificate to Operate (CTO) upon testing and approval by the government, which is valid for a period of two years and renewable every two years.

Without disclosing the contract value, Edaran expects the proceeds from the project to contribute towards its future earnings and net assets.

According to the Ministry of International Trade and Industry (MITI) website, the NSW is a facility that allows parties involved in trade and transport to lodge standardised information and documents with a single entry point to fulfill all import, export and transit-related regulatory requirements.

Shares in Edaran (fundamental: 0.95; valuation: 0.9) were untraded today, last closed at 31 sen on Aug 12. It has a market capitalisation of RM17.95 million.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)