Friday 29 Mar 2024
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KUALA LUMPUR (Nov 1): Mesiniaga Bhd, a hardy stock usually, gained 6.6% to touch a two-month high after the group yesterday announced a RM261.56 million contract awarded by the Ministry of Finance (MoF) to build new infrastructure for the Accountant General's Department of Malaysia (AGD).

At 10.46am, the counter went up eight sen to RM1.30, translating to market capitalisation of RM78.53 million. A total of 281,500 shares were exchanged, more than five times its 200-day average trading volume of 51,261.5.

According to Mesiniaga's exchange filing, the contract commences today and will be completed by end-April 2025.

Under the contract, Mesiniaga will design, supply, commission, and maintain the infrastructure hardware and software, and carry out the installation, migration testing and commissioning of the integrated financial and accounting management system of the Federal Government (iGFMAS) and the support system at AGD's new infrastructure.

The supply and implementation period is 10 months, while the hardware warranty period is for 60 months starting from May 2020 to April 2025.

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