KUALA LUMPUR (Oct 14): Mesiniaga Bhd (KL:MSNIAGA) has secured a one-year contract extension worth RM17.86 million from the Royal Malaysian Customs Department (RMCD) for the maintenance and licence renewal of its MYGST system.
The contract extension marked a continuation of the information technology products and services provider's earlier MYGST system maintenance agreement with RMCD that began in November 2023 and was valued at RM38 million.
The latest extension, which takes effect from Oct 16, 2025, will run until Oct 15, 2026. According to the company’s bourse filing on Tuesday, the agreement does not include an automatic renewal clause.
Mesiniaga said the contract is expected to contribute positively to the group’s earnings and net assets for the financial year ending Dec 31, 2025, and subsequent periods until completion.
For the first half of its 2025 financial year (1HFY2025), Mesiniaga posted a net loss of RM2.23 million, reversing from a net profit of RM783,000 in the same period last year, as revenue fell to RM45.26 million from RM98.32 million previously.
At Tuesday's market close, shares in Mesiniaga were down one sen or 0.78% at RM1.27, giving the company a market capitalisation of RM76.71 million.