PRIVA 0123 PRIVASIA TECHNOLOGY BERHAD's RM50.3mil order book skyrockets after bagging RM1.2bil MCMC jobs

 PRIVA 0123 PRIVASIA TECHNOLOGY BERHAD's RM50.3mil order book skyrockets after bagging RM1.2bil MCMC jobs

Privasia Technology Bhd, which is listed on Bursa Malaysia's ACE Market, has seen its current order book skyrocket from just over RM50 million after securing RM1.2 billion contracts.

KUALA LUMPUR: Privasia Technology Bhd, which is listed on Bursa Malaysia's ACE Market, has seen its current order book skyrocket from just over RM50 million after securing RM1.2 billion contracts.

Privasia said it had won the RM1.2 billion contracts in a consortium with Apex Communication Sdn Bhd from the Ministry of Communications and Multimedia.

The Konsortium Apex-Privasat will undertake two contracts for the installation of fibre optics and maintenance of fibre optic infrastructure in surrounding schools, residential, business, commercial and industrial premises.

This was under Phase 2 of the expansion of broadband infrastructure using the Point of Presence (PoP) method, Privasia said in a joint statement today.

Privasia said the contracts would cover the southern region (Negri Sembilan, Melaka and Johor) and northern region (Kedah and Perak).

They are worth RM627.2 million and RM617.5 million respectively.

"The duration of the contracts is for 96 months, where the implementation shall be completed in 36 months and followed by a 60-month warranty period.

"This project is expected to strengthen Privasia's existing order book, which currently stands at RM50.3 million (excluding this contract)," it said.

Apex Communications executive chairman Tan Sri Abdullah Ali and Privasia group chief executive officer Datuk Puvanesan Subenthiran said both parties were delighted to be awarded the opportunity to lend their expertise in developing the PoP infrastructure in Malaysia.

"We strongly believe a robust information communication technology infrastructure can boost the nation's economic growth.

"The PoP project will bridge the connectivity and mobility gap between rural and urban areas, especially since it is estimated that at least 432,300 premises would have high-speed broadband services when both Phase 1 and 2 are completed by the end of the 12th Malaysia Plan in 2025," they said.

https://www.nst.com.my/business/2022/10/839667/privasias-rm503mil-order-book-skyrockets-after-bagging-rm12bil-mcmc-jobs