Thursday 28 Mar 2024
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KUALA LUMPUR (Dec 4): Edaran Bhd shares jumped 28.75% this morning after its unit Edaran IT Services Sdn Bhd bagged a contract worth RM56.71 million to undertake the maintenance work of hardware, server software and application of customs information system from the Royal Malaysian Customs Department (RMCD).

At 10.31am, Edaran was up 11.5 sen at 51.5 sen, with some 11.17 million shares traded, valuing it at RM23.16 million.

In a bourse filing yesterday, Edaran stated that the 24-month contract took effect on Sept 1, 2019 and will expire on Aug 31, 2021.

"This contract has significant effect on the earnings per share (EPS) of the company for the financial year ending June 30, 2020.

"Proceeds from the contract shall contribute towards the earnings of Edaran Group for the financial year ending June 30, 2020," it said.

The EPS is estimated to increase by 4.11 sen.

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