Saturday 13 Apr 2024
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KUALA LUMPUR (Jan 2): Edaran Bhd has secured a RM356.56 million contract to provide hardware and software rental services to the Royal Malaysian Customs Department, its Bursa Malaysia filing showed on Tuesday.

The technology company said its wholly-owned Edaran IT Services Sdn Bhd secured the 48-month contract from the Ministry of Finance (MOF), and that the letter of award was accepted on Tuesday.

“Proceeds from the contract shall contribute towards the earnings of the group for the financial year ending June 30, 2024 (FY2024) until June 30, 2028 (FY2028),” it said.

Edaran’s substantial shareholders are Valiant Chapter Sdn Bhd, with a 23.8% stake, Kauthar Sdn Bhd (8.17%) and Unique Pyramid (7.93%).

Valiant Chapter is wholly-owned by Zamri Samsuddin, while Unique Pyramid is owned by Ruzila Ab Kadir, according to checks with the Companies Commission Malaysia.

Kauthar, meanwhile, is 95%-owned by Edaran’s founder, previously prominent corporate figure Tan Sri Tajudin Ramli, while the remaining 5% is held by his spouse Puan Sri Faridah Abdullah. Tajudin’s son, Fazlan Azri Tajudin, sits on the company’s board as an executive director.

Shares in Edaran closed 4.5 sen or 5.17% higher to 92 sen on Tuesday, giving it a market capitalisation of RM54.90 million.

Edited ByTan Choe Choe
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