DSONIC (5216): DATASONIC GROUP BHD bags RM50m contract to supply raw MyKad

DSONIC (5216): DATASONIC GROUP BHD  bags RM50m contract to supply raw MyKad

KUALA LUMPUR (Feb 17): Datasonic Group Bhd has bagged a RM50.12 million contract to supply the National Registration Department (NRD) with MyKad, MyTentera and MyPOCA raw cards and consumables.

The contract awarded by the Home Ministry spans a period of 12 months from Feb 15, the group said in a bourse filing.

Datasonic in May 2016 announced a 3½-year contract worth RM260.4 million for the supply of 12 million MyKad raw cards and consumables to NRD, from July 1, 2016 to Dec 31, 2019.

In January 2020, the group received a one-year extension to supply another 6.1 million MyKad raw cards and consumables to the NRD.

Under the latest contract, Datasonic is required to furnish a RM2.51 million performance bond to the ministry.

The group is also required to implement the Professional Training & Education For Growing Entrepreneurs programme as set by the government based on the contract sum, with a minimum number of 20 participants.

"The contract is expected to contribute positively towards the future earnings and net assets per share of Datasonic Group for the financial year ending March 31, 2022 and the financial year thereafter for the duration of the contract," said Datasonic.

Shares of Datasonic settled 1.5 sen or 3.3% higher at 47 sen on Thursday, giving the group a market capitalisation of RM1.38 billion.

http://www.theedgemarkets.com/article/datasonic-bags-rm50m-contract-supply-raw-mykad