Datasonic gets RM270.71m contract from Home Affairs Ministry

PETALING JAYA: Datasonic Group Bhd has received the letter of award (LoA) from the Home Affairs Ministry for the supply of 9.96 million polycarbonate biodata pages to the Immigration Department of Malaysia with a contract value of RM270.71 million.
The contract is for a period of 46 months commencing from February 1, 2018 to November 30, 2021.
Datasonic told Bursa Malaysia that under the terms of the LoA, its wholly owned subsidiary Datasonic Technologies Sdn Bhd is required to furnish a performance bond for the amount of RM3.53 million to the Home Affairs Ministry with a validity period from February 1, 2018 to November 30, 2022.
The group expects the contract 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.
Datasonic shares gained 1.5 sen or 1.6% to close at 94.5 sen today on some 2.45 million shares done.