KUALA LUMPUR (March 27): iCents Group Holdings Bhd (KL:ICENTS) has bagged a contract to supply a data centre system to a multinational construction company undertaking a data centre project in Indonesia.

The group said the contract worth 59.5 billion rupiah (RM14.1 million) was awarded to its wholly-owned subsidiary, Maytech Cleanroom Manufacturing Sdn Bhd, by an Indonesian dealer.

No further details of the multinational company and the Indonesian dealer were disclosed in iCents' bourse filing on Friday.  

The company expects the project to be completed by June 2026 and contribute positively to its earnings during the duration.

iCents, listed on the ACE Market of Bursa Malaysia in July last year, provides cleanroom services, including engineering, procurement, construction, and testing and commissioning of cleanrooms catering to semiconductor and electronics manufacturing, data centre, pharmaceutical and life sciences sectors.

ASKEdge data showed that iCents currently trades at a 38.7 times trailing price-earnings (P/E) ratio. This is significantly higher compared to its peers wire and cable manufacturer Supercomnet Technologies Bhd (KL:SCOMNET) (P/E ratio of 18 times) and medical device distributor and manufacturer UMediC Group Bhd (KL:UMC) (P/E ratio of 14.2 times).

Shares of iCents ended unchanged at 37.5 sen on Friday, valuing the company at RM188 million. Against its initial public offering price of 24 sen, the counter has gained 56%.