Friday 29 Mar 2024
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KUALA LUMPUR (July 13): Edaran Bhd’s wholly-owned subsidiary, Edaran IT Services Sdn Bhd, has been awarded a tender to supply a weather prediction system worth RM44.62 million by the Ministry of Science, Technology and Innovation (MOSTI).

In a filing to Bursa Malaysia today, Edaran said the High Performance Computing and Active Archive System will be used for numerical weather prediction for the Malaysian Meteorological Department.

“Proceeds from the contract shall contribute towards the earnings of Edaran group for the financial year ending June 30, 2017. Earnings per share is estimated to increase by 7.7 sen,” said Edaran.

This is the second contract win for Edaran, which provides information technology services for the government sector. On April 13, it bagged a RM19.25 million system maintenance contract from the Royal Malaysian Customs Department.

Both contracts are more than three times Edaran's market capitalisation which stands at RM17.37 million as at July 1.

Edaran shares were not traded today. It last traded at 30 sen on July 1.

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