KUALA LUMPUR (Jan 25): Key ASIC Bhd's wholly owned subsidiary Key ASIC Semiconductor Ltd has entered into a contract worth US$5.25 million (approximately RM21.22 million) with Canvas Technology Pte Ltd.
The project entails the technology and design intellectual property (IP) development and licensing, the group said in a filing today.
"The contract is expected to contribute positively to the net assets per share and earnings per share of Key ASIC and its subsidiaries for the financial years ending May 31, 2021 and May 31, 2022," it said.
"Key ASIC does not foresee any exceptional risks other than execution risks, political risks, pandemic risks and country risks associated with the contract," it added.
Key ASIC as a group is engaged in application-specific integrated circuit (ASIC) design services for consumer, wireless and personal electronic applications.
Shares of the group closed unchanged today at nine sen. Its market capitalisation stood at RM105.59 million.