KUALA LUMPUR (Dec 17): Silver Ridge Holdings Bhd (KL:SRIDGE) has secured a RM42.88 million contract from the Ministry of Education (MOE) to provide laptops to teachers in Sarawak.

In a bourse filing on Wednesday, the telecommunications services provider said its wholly owned subsidiary, Silver Ridge Sdn Bhd, received a letter of acceptance of tender dated Dec 16.

The contract covers the supply of laptops on a lease-to-own basis for use by teachers in schools and educational institutions under the MOE in Sarawak.

The contract period spans 64 months, comprising an initial four months for supply, installation, testing and commissioning, followed by a 60-month lease period.

It is expected to start on Jan 1, 2026 and run until April 30, 2031.

The group said the contract will not have any material impact on earnings for the financial year ending June 30, 2026, (FY2026) but is expected to contribute positively to future earnings, barring unforeseen circumstances.

For its first financial quarter ended Sept 30, 2025 (1QFY2026), Silver Ridge's net profit declined 88.4% to RM150,000 from RM1.3 million in the previous year's corresponding quarter, as its revenue was halved to RM5.18 million from RM9.97 million. 

The group said the lower revenue was mainly due to delays in obtaining the final certification of work, which postponed revenue recognition for the quarter.

Shares in Silver Ridge, which have declined 40% year-to-date, closed up half a sen or 1.89% at 27 sen on Wednesday, giving the group a market capitalisation of RM103.34 million.