Datasonic secures RM19 million MyKad project

Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Tuesday, 07 May 2013 13:06
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KUALA LUMPUR (May 7): Datasonic Group Bhd has secured an
RM18.7 million project to offer identification-TECHNOLOGY [] solutions
to Malaysia’s National Registration Department.
In a statement to the exchange today, Datasonic said it has received the
letter of award (LOA) from the Home Ministry to provide hardware and
software to facilitate printing of the country’s identity card which is
known as “MyKad”. The one-year contract starts from May 1, 2013 till
April 30, 2014.
"The LOA will not have any effect on the company’s issued and paid-up
share capital and the shareholdings of the company’s substantial
shareholders.
"The LOA is not expected to have a materi al effect on the company’s earnings per share, net assets per share and gearing.
It is expected to contribute positively to the future earnings and cash flow of the company," Datasonic said.
Under the LOA, Datasonic needs to furnish a performance bond amounting to RM935,000 to the ministry within 14 days from
the date of the LOA.