KUALA LUMPUR (March 25): Business application solutions provider Rexit Bhd has secured a five-year outsourcing services agreement from Great Eastern Takaful Bhd (GETB) to develop, manage and operate the mySalam portal for eligible members.

The scope of services includes the development, operation, management and maintenance of the mySalam portal for eligible members to access for enquiries and claim submission, Rexit said in a filing with Bursa Malaysia today.

The agreement, inked today via Rexit's wholly-owned subsidiary Rexit Software Sdn Bhd, shall commence and take effect from Jan 1, 2019 until Dec 31, 2023, irrespective of the date the agreement was executed, Rexit said, adding that the agreement may be renewed for a further period of two years or any other specified period as required by GETB.

“The agreement value will be calculated at RM1.40 per annum per eligible member, subject to a maximum charge of 4 million members,” it added.

This means Rexit would be able to churn out a maximum of RM5.6 million annually from this agreement, which is expected to contribute positively to its earnings and net assets per share from the financial year ending June 30, 2019 (FY19) onwards, until the expiry of the deal.

The mySalam national health protection scheme was launched in January and is set to provide some 3.69 million B40 individuals aged between 18 and 55 years nationwide, with free takaful health protection.  

Rexit shares closed half a sen or 0.83% higher at 60.5 sen today, giving it a market capitalisation of RM107.56 million.