KUALA LUMPUR (Jan 28): Datasonic Group Bhd (KL:DSONIC) on Tuesday said it has secured a one-year contract extension worth RM104.78 million to supply passport chips to the Malaysian Immigration Department (JIM).
Datasonic said in a bourse filing that the letter of extension was awarded to its wholly-owned unit Datasonic Technologies Sdn Bhd (DTSB) from the Ministry of Home Affairs (KDN).
Under the contract, DTSB is required to furnish KDN with a new performance bond of RM3.43 million or an additional performance bond of RM238,660, with an extended validity period until November 30, 2026.
The latest contract extension is effective from Dec 1, 2024 until Nov 30, 2025.
This marks the fifth contract extension from KDN for the supply of passport chips with a total ceiling value of RM616.71 million, Datasonic noted. The company first secured the passport chips contract worth RM318.75 million back in December 2015 for a period of five years.
“The contract is expected to contribute positively towards the future earnings and net assets per share of Datasonic Group for the financial year ending March 31, 2025 and the financial year thereafter for the duration of the contract,” it said.
Last week, the integrated information and communications technology solutions provider also received a one-year contract extension to supply Malaysian passports and polycarbonate biodata pages to the immigration department.
The extension comes with an additional contract ceiling of RM57.15 million for the passport supply contract, and RM93.3 million for the polycarbonate biodata pages supply contract.
Datasonic shares were half a sen or 1.25% lower at 39.5 sen during midday break on Tuesday, valuing the group at RM1.17 billion.