KUALA LUMPUR: Pertama Digital Bhd's subsidiary Dapat Vista (M) Sdn Bhd has secured a four-month contract from My Digital ID Sdn Bhd to provide digital identification (ID) onboarding registration services.
In a filing with Bursa Malaysia Securities, Pertama Digital said Dapat Vista accepted a letter of award from My Digital yesterday.
My Digital ID is principally involved in information technology service activities N.E.C. and information communication technology (ICT) system security.
The duration of the contract for the above provision is for a period of four months, with an option to extend the contract for an additional three months. However, Pertama Digital did not disclose the value of the contract.
Pertama Digital.s share price closed five sen lower to RM2.28 yesterday, giving it a market capitalisation of RM999.1 million.
"Should My Digital ID wish to extend the contract after the expiry of the primary term, a Letter of Intent (LoI) will be issued to Dapat Vista.The LoI will be issued within one month prior to the expiry of the primary term.Thereafter, MIMOS and Dapat Vista will enter into negotiations to review the scope of services, prices/rates, and terms and conditions before extending the contract for the secondary term," it noted.
During the term of the contract, Pertama Digital stated that MY Digital ID reserves the absolute right to terminate the contract prior to its expiry date.
This termination shall be carried out through the issuance of a one-month notice of termination to Dapat Vista by MY Digital ID's procurement department.
Pertama Digital also expects the contract to contribute positively to the group's future earnings and strengthen its net asset position over the duration of the contract.