KUALA LUMPUR (March 16): Datasonic Group Bhd has secured a three-month extension contract from the Ministry of Home Affairs (MOHA) for the supply of MyKad, MyTentera, MyPOCA raw cards and consumables to the National Registration Department.

The extension, from Feb 15 to May 14, will give rise to an additional contract value of RM12.53 million and was issued to and accepted by its wholly owned subsidiary Datasonic Technologies Sdn Bhd, according to Datasonic's filing with Bursa Malaysia on Thursday (March 16). The original contract value was RM50.12 million.

Under the terms of the extension, Datasonic will supply an additional 585,000 raw cards for MyKad and 400 more for MyPOCA, as well as an additional 5,437 for MyTentera. Datasonic is also required to furnish a performance bond for RM2.51 million to MOHA, with the validity period to be extended until May 14, 2024.

As at end-2022, Datasonic’s deposits with licensed banks, cash and bank balances amounted to RM33.89 million.

The group reported a net profit of RM16.73 million for the third quarter ended Dec 31, 2022 (3QFY2023), more than 10 times the RM1.51 million it made a year ago, driven by its businesses of supplying smart cards, passport and personalisation services. Revenue more than doubled to RM82.09 million for 3QFY2023 from RM35.95 million in 3QFY2022.

For the nine months ended Dec 31, it recorded a net profit of RM53.66 million, compared to a net loss of RM3.12 million in the previous corresponding period, while revenue about tripled to RM239.80 million from RM82.09 million.

On outlook, Datasonic said in its quarterly report that the demand for passports has been robust since the reopening of international borders.

“The pent-up demand is anticipated to sustain in the coming quarters and Datasonic is prioritising the continuous and smooth delivery to the client for best public delivery services.

“At the same time, the group also envisages orders for MyKad to rebound firmly, comparable to pre-Covid-19 levels,” it said.

Datasonic also said it would continue to channel its efforts into various new programmes and initiatives, especially in the areas of digitalisation and payment support services, as part of its plan to diversify its revenue stream.

Shares of Datasonic closed one sen or 2.2% lower at 45 sen on Thursday, giving the group a market capitalisation of RM1.33 billion.