This article first appeared in The Edge Financial Daily on April 10, 2020

KUALA LUMPUR: Omesti Bhd has bagged a contract worth RM95.59 million from Telekom Malaysia Bhd (TM) to build a new business support systems (BSS) platform.

BSS are components used by telecommunications service providers to run their business operations towards customers.

The two-year contract will start two weeks from the end of the movement control order, Omesti said in a filing with Bursa Malaysia

It said the renewal of the application software subscription for years three, four and five will be at an estimated price of RM104.99 million, subject to TM’s approval.

Omesti said the contract is expected to contribute positively to its revenue, earnings and net assets per share for the financial year ending March 31, 2021 onwards until the expiry of the contract.

In a separate statement, Omesti said the BSS platform is set to drive innovation and transform TM’s interaction with its internal and external users.

“This is a major milestone achievement for the Omesti Group. We view this as a long-term innovation partnership with this major client and look forward to enabling this cutting-edge solution for Malaysia’s national telco (telecommunication company),” said its executive director Chia Yong Wei.

“This BSS technology also holds significant potential for achieving optimum efficiency and cost savings in a range of sectors beyond telecommunications as more industries embrace IoT (Internet of Things), cloud services and multiple device applications,” added Chia.

Omesti said the new platform will deploy Huawei Technologies Co Ltd’s BSS technology for the roll- out of a state-of-the-art integrated customer relationship management and billing systems architecture.

Omesti’s share price closed 8.5 sen or 18.28% higher at 55 sen yesterday, valuing the group at RM291.96 million. Over the past year, the counter has surged by 41%.