Friday 21 Jun 2024
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KUALA LUMPUR (March 27): Eduspec Holdings Bhd has secured a RM30 million contract from electronic manufacturing services (EMS) provider EG Industries Bhd to provide testing services for EG Industries’ 5G optical modules and other related components.

According to Eduspec’s bourse filing on Wednesday, the job was awarded to the education technology products and services provider’s wholly-owned unit, Eduspec Technology Sdn Bhd, from EG Industries’ wholly-owned subsidiary SMT Technologies Sdn Bhd (SMTT).

The independent testing services Eduspec is to provide under the contract include testing and validating SMTT’s 5G optical printed circuit board assembly and other related components and products.

The contract spans one year commencing from April 1, 2024, according to the group.

Eduspec added that the job is expected to contribute positively to its consolidated earnings.

“The group intends to finance the commitment [required for the contract] via internally generated funds and/or a fundraising exercise, of which if undertaken, the details will be announced in due course,” it also noted.

Shares in Eduspec ended unchanged at 14 sen, valuing the group at RM164.2 million.

Meanwhile, EG Industries’ shares closed three sen or 2.34% lower at RM1.25, giving the company a market capitalisation of RM584.75 million.

Edited ByIsabelle Francis
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