KUALA LUMPUR (Dec 16): IT services provider Infomina Bhd (KL:INFOM) has accepted a purchase order valued at US$2.6 million (approximately RM11.6 million) for the provision of technology application, infrastructure operations, maintenance, and support services.

The order, accepted through Infomina’s wholly owned subsidiary Infomina Pte Ltd (Infomina SG), was placed by Hong Kong Exchanges and Clearing Ltd (HKEX), according to a filing with Bursa Malaysia on Monday. The purchase order is effective from Dec 1, 2024, through to Dec 31, 2027, it noted.

Under the terms of the purchase order, Infomina SG will assist HKEX in renewing licence subscriptions, providing training for HKEX personnel on installation and start-up processes, and overseeing the installation and start-up of both hardware and software.

The services also include assessing and monitoring HKEX’s software environment to ensure it is kept up-to-date with the latest supported versions, it noted.

Infomina added that it will further provide ongoing online and offline support services, periodic maintenance of hardware and software, ad-hoc technical and repair services, as well as consumption and utilisation monitoring and reporting services.

"The risk factors associated with the PO (purchase order) are the same as those presently faced by Infomina SG. The main risk for the PO will be the currency risk where fluctuations in foreign currency exchange rates, particularly in USD, which any unfavourable fluctuations may adversely affect our financial performance and profit margin," Infomina said.

The purchase order is expected to contribute positively to the earnings of Infomina over the contract period. "The renewal of the PO in the future will be subject to a new purchase order to be negotiated with HKEX towards the end of the period," it added.

Infomina shares were three sen or 2.19% lower at RM1.34 during the noon market break on Monday, giving the company a market capitalisation of RM805.68 million. The stock has depreciated by over 19% year-to-date.