KUALA LUMPUR: Datasonic Group Bhd’s subsidiary Datasonic Technologies Sdn Bhd (DTSB) has bagged a RM270.71 million contract from Ministry of Home Affairs for the supply of 9.96 million polycarbonate biodata pages to Immigration Department of Malaysia (IDM).
In an exchange filing yesterday, Datasonic said the contract is for a period of 46 months, commencing from February 1, 2018 to November 30, 2021.
“Under the contract term, DTSB is required to furnish a performance bond for the amount of RM3.53 million to (IDM), with validity period commencing from February 1, 2018 to November 30, 2022.”
The contract is expected to contribute positively towards its future earnings and net assets per share for the financial year ended March 31, 2018 and the financial years thereafter for the duration of the contract.
The company noted that the contract is subject to normal business risks such as increase in cost due to any escalation of material costs and contractual terms including default provisions.