Edaran shares hit limit up on new contract

PETALING JAYA: Shares of Edaran Bhd jumped 133.3% this morning, after its subsidiary Edaran IT Services Sdn Bhd bagged a RM149.97 million contract from the Royal Malaysian Customs Department for the enhancement of its information system.
At 10.43am, the stock was the top gainer with its share price rising as much as 30 sen to 52.5 sen. A total of 8.47 million shares were changing hands, bringing its market capitalisation to RM13.03 million.
Edaran said the contract has a significant effect on its earnings per share (EPS) for the financial year ending June 30, 2018 with an expected 16 sen rise in EPS.
Edaran IT is a full-fledged IT services and solutions provider company, providing end-to-end IT systems solutions that include the provisioning, installation, commissioning, integration and maintenance of IT systems and related services.