Highlight Datasonic bags RM32.57m contract from Home Ministry

by **Cals** Mon 30 Mar 2015, 20:35

Highlight
Datasonic bags RM32.57m contract from Home Ministry

By Gho Chee Yuan / theedgemarkets.com | March 30, 2015 : 1:31 PM MYT

SHAH ALAM (March 30): [size=14]Datasonic Group Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) has bagged a RM32.57 million contract for the maintenance services for personalisation process at Nasional Registration Department (JPN).

In a filing with Bursa Malaysia today, the company said it had on last Monday (March 23) received the letter of award from the Home Ministry (KDN).

The tenure of the contract is two years starting from May 1 this year to April 30, 2017.

Under the terms of the LOA, Datasonic (fundamental: 2.2; valuation: 0.3) is required to furnish a performance bond for the amount of RM814,223.40 to KDN, with validity period commencing from May 1, 2015 to April 30, 2018.

Datasonic said the contract is expected to contribute positively towards the future earnings and its net assets per share for the duration of the contract.

As at the closing bell at morning trading session, Datasonic share price was traded unchanged at RM1.17, bringing its market capitalisation to RM1.58 billion.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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