KUALA LUMPUR (June 15): Divfex Bhd’s unit Diversified Gateway Bhd (DGB) on June 3, 2023 received a letter of award (LOA) worth RM9.43 million from TM Technology Services Sdn Bhd for a period of six years.
According to a bourse filing on Thursday (June 15), the LOA consists of the provisions of works or services “for the plan, design, supply, delivery, installation, testing, commissioning, professional services, training, warranty and maintenance support services of Dense Wavelength Division Multiplexing (DWDM) network deployment for TM Tech”.
The contract is expected to expire on June 2, 2029, and comprises maintenance and support services for a five-year period after a warranty period of 12 months.
DGB is required to sign the LOA within two months of receipt.
The group stated that the LOA is expected to contribute positively to the revenue, earnings, and net assets for its financial year ending June 30, 2024.
At the closing bell, shares of Divfex dropped half a sen or 4.17% to 11.5 sen, valuing the company at RM81.86 million.