PETALING JAYA: Omesti Bhd
has secured a regulatory mandate that is set to provide earnings visibility over the medium term, following the designation of its indirect subsidiary as a universal service provider for education connectivity projects.
The group said Ohana Communications Sdn Bhd had accepted a notification of approval from the Malaysian Communications and Multimedia Commission, appointing it as the designated Universal Service Provider for the installation and upgrading of Wi-Fi network facilities at Majlis Amanah Rakyat education institutions. The appointment is made under the Universal Service Provision Initiative in accordance with prevailing communications regulations.
The obligation covers a 44-month period from Jan 23, 2026 to Oct 23, 2029, with a total approved implementation cost of RM43.1 million. Omesti said the project is expected to contribute positively to group revenue, earnings per share and net assets per share, without having an immediate material impact on gearing for the financial year ending Oct 31, 2026.
The board added that, aside from normal operational risks, no material risk factors have been identified.
