KUALA LUMPUR: NexG Bhd has received a contract extension from the Home Ministry to supply foreign worker cards (i-Kad) to the Immigration Department.
In a filing with Bursa Malaysia, the company said its wholly-owned subsidiary, Datasonic Technologies Sdn Bhd (DTSB), had on Oct 15, 2025, accepted a Letter of Amendment from the Home Ministry, dated Oct 6, 2025, extending the contract period by 18 months -- from Nov 1, 2025, to April 30, 2027.
The original contract, valued at RM140 million, commenced on Nov 1, 2022, and was set to end on Oct 31, 2025.
NexG said there would be no change in the contract’s ceiling value, quantity, or item value under the amendment, and the contract remains exempt from the eight per cent Sales and Service Tax.
Under the revised terms, DTSB is required to furnish a performance bond amounting to RM2.33 million, valid until April 30, 2028.
"The Letter of Amendment is subject to normal business risks, including economic conditions, changes in government regulations, and operational factors such as cost escalation,” the company said, adding that appropriate control measures would be put in place to mitigate such risks.
NexG said the contract extension is expected to contribute positively to the group’s earnings and net assets per share for the financial year ending March 31, 2026, and the subsequent years over the duration of the extended contract period. - Bernama
