INNOVATIVE technology solutions provider Nova MSC Bhd through its wholly owned subsidiary novaCITYNETS Pte Ltd (NCN) has been awarded a RM35.4 mil contract by Singapore-based Sys-Mac Automation Engineering Pte Ltd.
Under this contract, NCN will be responsible for the supply, delivery, installation, testing and commissioning of a fully operational automated administration, labelling and sample processing system over a 32-month period.
This will be followed by a four-year maintenance contract after a 12-month warranty period. The initial part of the contract is valued at approximately RM20.8 mil (about S$5.9 mil).
Additionally, Sys-Mac has the option to purchase further optional items and services along with the possibility of extending the maintenance contract for an additional five years. This extension is estimated to be worth RM14.6 mil (about S$4.1 mil).
“The contract from Sys-Mac is a significant milestone for NCN and NOVA MSC for it not only demonstrates our technological prowess but also our capability to deliver complex automation solutions on a large scale,” Nova MSC’s executive director Nazeroll Kasim pointed out.
The NOVA MSC management team is confident that this contract will not pose any material risks beyond the usual operational and execution risks associated with such projects.
Importantly, it is expected to contribute positively to the group’s results over the duration of the contract without affecting the share capital and shareholding structure of Nova MSC.
“This collaboration with Sys-Mac, a company with a formidable global presence and a reputation for engineering excellence, not only reinforces our market position but also opens vast opportunities for future expansion and innovation,” envisages Nazeroll.
“It’s a stepping stone towards our strategic goal of becoming a global leader in the technology solutions space.”
Elsewhere, the partnership aligns perfectly with Nova MSC’s strategic vision of expanding its footprint in the automation industry.
“We’re energised by the opportunity to work alongside Sys-Mac and anticipate a fruitful and innovative collaboration. Being awarded with the contract is a recognition of our cutting-edge technology capabilities and we’re confident that this will position as a key player in the global market,” added Nazeroll.
Established in 1989, Sys-Mac has a strong global presence with customers in Europe, the US and Asia. The company specialises in contract manufacturing services, systems integration for factory automation, vision system solutions and intellectual property translation services.
At the close of today’s trading, Nova MSC was unchanged at 10.5 sen with 393,700 shares traded, thus valuing the company at RM125 mil. – Jan 26, 2024
