KUALA LUMPUR: Eden Inc. Bhd's unit Eden Catering Sdn Bhd has secured a RM20 million contract from the Health Ministry (MoH) for outsourced food services at the National Cancer Institute (IKN).
Eden said the three-year agreement, set to commence on Jan 1, 2025 until Dec 31, 2027, is expected to positively impact the company's earnings and net assets for the financial years ending 30 June 2025 through 30 June 2028.
"This milestone is a testament to Eden's ongoing efforts to strengthen its foothold in the business-to-government segment while building on its expertise in the food and beverage industry.
"The contract aligns with the company's broader strategy to diversify and expand its operations by transitioning from its business-to-consumer (B2C) roots to include business-to-business (B2B) and business-to-government (B2G) opportunities," it said in a statement.
Eden added that this strategic progression underscores the company's commitment to offering value-added services and solutions across the supply chain, further enhancing its position in Malaysia's competitive food service sector.
It stated that the energy segment remains the major contributor to the group, operating two power plants, alongside its tourism division, which manages an aquarium in Underwater World Langkawi.
The food and beverage (F&B) segment is now picking up its pace, looking at repositioning itself as a key driver of growth within the group.
Eden said the contract represents a key milestone as it seeks to capitalize on growth opportunities in institutional catering.
By meeting the rigorous standards required for servicing healthcare institutions such as the IKN, the company reinforces its reputation as a trusted provider of outsourced food services.
This development reflects its capacity to adapt to evolving market demands and deliver tailored solutions for large-scale institutional clients.
With a focus on sustainable growth and operational excellence, Eden said it is well-positioned to expand its presence in the high-demand healthcare and government service sectors.
"The RM20 million contract is a significant step forward in Eden's journey toward becoming a leading player in Malaysia's food and beverage industry.
"It signals a clear direction for the company's future growth and its commitment to meeting the needs of institutional partners with reliability and quality," it added.
Eden's share price ended 0.5 sen or 3.3 per cent lower at 14.5 sen, giving it a market capitalisation of RM73 million.