KUALA LUMPUR (Feb 28): AwanBiru Technology Bhd (Awantec) has been awarded a four-year contract worth RM19.2 million from the Ministry of Higher Education (MOHE) for the supply of Google Workspace for Education to be utilised by public universities, polytechnics and community colleges throughout Malaysia.
MOHE had issued the letter of award dated Feb 27, 2024 to Awantec's wholly owned subsidiary Awantec Systems Sdn Bhd (ASSB), the company said in an exchange filing on Wednesday.
"The process of formalising the agreement between MOHE and ASSB is currently underway," Awantec added.
The duration of the contract is 48 months, commencing from March 1, 2024 and expiring on Feb 29, 2028.
This is the second contract the company has secured within three months. Last December, Awantec secured a three-year contract worth RM4.88 million from the Ministry of Education for the procurement of Learning Management System licence subscription services.
This was Awantec's first major success in providing a digital learning platform.
In a separate filing, Awantec announced it posted a net profit of RM781,000 in the second financial quarter ended Dec 31, 2023 (2QFY2024) against a net loss of RM2.91 million in the previous corresponding quarter, as revenue jumped 52.1% to RM12.15 million from RM7.99 million previously.
For the first half of the financial year (1HFY2024), Awantec recorded a net profit of RM1.18 million compared with a net loss of RM4.31 million in the previous year, as revenue rose 9.7% to RM28.62 million from RM26.09 million.
Shares of Awantec were up one sen, or 2.2%, to close at 46.5 sen on Wednesday, for a market capitalisation of RM363.31 million.