MESINIAGA Bhd has secured a contract for the comprehensive maintenance services of branch systems at the National Registration Department from the Home Affairs Ministry.
The contract, worth RM10.6 mil, will see Mesiniaga provide maintenance for both the hardware and software of the systems. The contract commenced on July 1, with an expected completion date of June 30, 2023.
The contract will have a positive effect on Mesiniaga’s net assets for the current financial year, which ends Dec 31, and contribute positively to earnings over the period of the contract, according to the board of directors. Mesiniaga’s earnings per share and gearing will also see positive effects.
However, it was also noted in the Bursa filing dated July 10 that the contract is not likely to have an effect on the dividend policy, share capital, and the substantial shareholders’ shareholdings of the company for the current financial year.
At 3.10pm, Mesiniaga’s shares were last done at RM1.14, up 7 sen, with 96,700 shares traded. – July 10, 2020
