KUALA LUMPUR (July 4): AwanBiru Technology Bhd (KL:AWANTEC), a technology and talent digitalisation enabler, has bagged a RM25.69 million contract from the Ministry of Education (MOE) to provide cloud-based solutions, such as Google Workspace for Education and Google Cloud Platform, to all schools under the MOE.

Awantec is of the view that the project presents a positive opportunity for the group, as it aligns with its strategic goals and will contribute to its growth and success.

In a filing with Bursa Malaysia on Thursday, Awantec said its wholly owned subsidiary Awantec Systems Sdn Bhd (ASSB) had accepted a letter of award (LOA) issued by the MOE.

"The formalisation of the agreement between the MOE and ASSB is currently under way," it added.

The award is a renewal of the contract previously awarded by the MOE to ASSB for the supply of G Suite Enterprise for Education to all schools under the ministry for a term of three years, which ended on July 8. The previous award was announced by Awantec in July 2021.

The duration of the latest contract is 36 months, from July 9, 2024 to July 8, 2027.

"Barring unforeseen circumstances, ASSB’s entry into the LOA is expected to have a positive impact on the group's future earnings per share and net tangible assets per share," said Awantec.

Awantec shares closed down 1.5 sen or 3.26% at 44.5 sen on Thursday, giving the group a market capitalisation of RM351.5 million. A total of 1.2 million shares changed hands. The share price has risen 14% year-to-date.