KUALA LUMPUR: Datasonic Group Bhd
has accepted the letter of award from the Ministry of Home Affairs for a RM32.56mil contract.
In a statement to Bursa Malaysia on Monday, the group said the award is for the maintenance services for personalisation process at the National Registration Department of Malaysia for a period of two years, commencing from May 1 to 30 April 2017.
It said under the letter of award, Datasonic is required to furnish a performance bond for the amount of RM814,223.40 to the Ministry of Home Affairs, with validity period commencing from May 1, to 30 April 2018.
"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, 2016 and the financial years thereafter for the duration of the contract and will not have any effect on the share capital and substantial shareholders’ shareholdings of Datasonic Group," it said.
It added that the job is subject to normal business risks such as increase in cost due to any escalation of material costs and contractual terms including default provisions.
"As such, the management would put in place control measures and operational procedures to reduce the impact or likelihood of such events," it noted.
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