A Bursa Malaysia filing by Datasonic Group Bhd’s wholly owned subsidiary Datasonic Technologies Sdn Bhd (DTSB) revealed that it has been given a contract extension for the supply of passport chips to the Immigration Department by the Home Ministry. DTSB has been given a 12-month extension from 1 December 2024 to 30 November 2025, with an additional contract value of RM104.78 million.
According to Bernama, this is the fifth extension of the passport chip supply contract, with DTSB originally awarded the contract on 15 December 2015. DTSB lauded the contract extension, saying that it is expected to contribute positively towards the future earnings and net assets per share of Datasonic Group for the financial year ending 31 March 2025, as well as the financial year thereafter for the duration of the contract.
Furthermore, Datasonic Group in a separate statement lauded the contract as solidifying its reputation as a leading player in the security identity market. Initially, the contract was only for a 5-year duration or 12.5 million passport chips.
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