KUALA LUMPUR: Datasonic Group Bhd (Datasonic), through its subsidiary Datasonic Technologies Sdn Bhd has secured a RM21.26 million from the Economy Ministry to rent out 818 vending machines.
The vending machines are for the implementation of the People's Income Initiative (IPR) programme under the Food Entrepreneur Initiative (Insan) category, where participants sell food at an affordable price using vending machines.
In a filing with Bursa Malaysia Securities, Datasonic said it expects the two-year contract to contribute positively towards its earnings and net assets for the financial year ending March 31, 2025 and thereafter without affecting its share capital and substantial shareholders' shareholdings.
Datuk Safian Mohd Yunus, a former non-independent non-executive director of Datasonic, is its largest shareholder with more than 4-6 million or 14.56 per cent shareholding.
Meanwhile Urusharta Jamaah Sdn Bhd, a wholly owned entity of Minister of Finance Inc, holds an 8.79 per cent or 245.7 million stake in the company.
The company's share price closed at 49.5 sen on Monday, valuing its market capitalisation at RM1.47 bilion.