KUALA LUMPUR (Dec 12): Datasonic Group Bhd (KL:DSONIC) has proposed to change its name to NEXG Bhd.
The proposed name change has been approved and reserved by the Companies Commission of Malaysia (CCM) as of Dec 9, 2024, according to a filing with Bursa Malaysia on Thursday. The change will be subjected to approval by its shareholders at an extraordinary general meeting, the date of which will be announced in due course, it noted.
"A circular to shareholders with details of the proposed change of name will be issued to the shareholders in due course. The proposed change of name, if approved by the shareholders, will take effect from the date of issuance of the Notice of Registration of New Name by the CCM to the company," Datasonic said.
On Dec 9, Datasonic confirmed an earlier report by The Edge Malaysia citing sources, that the company is believed to have secured a new five-year contract to supply materials for three million Malaysian passports annually, with a contract value estimated between RM100 and RM115 per document.
Should the new contract be finalised, it will mark Datasonic’s first contract renewal since November 2021, when the original agreement expired.
Datasonic’s subsidiary, Datasonic Technologies Sdn Bhd (DTSB), was initially awarded a five-year contract in December 2015 to supply Malaysian passport chips, totalling 12.5 million chips from Dec 1, 2016 to Nov 30, 2021 for a contract sum of RM318.75 million.
In April 2016, DTSB secured a second contract worth RM223.38 million for the supply of 13.42 million passport booklets over five years, also expiring on Nov 30, 2021.
Additionally, in April 2018, DTSB was awarded a RM270.7 million contract for the supply of 9.96 million polycarbonate biodata pages for a period of 46 months, from Feb 1, 2018 to Nov 30, 2021.
Datasonic’s shares closed unchanged at 43 sen on Thursday, giving the company a market capitalisation of RM1.28 billion.