KUALA LUMPUR (June 12): Mesiniaga Bhd (KL:MSNIAGA) has won a RM43.28 million contract from a Malayan Banking Bhd (KL:MAYBANK) unit for the renewal of a licence subscription agreement over a three-year period.
In a filing on Bursa Malaysia, the information technology services provider said the contract was awarded on Thursday (June 11) by Maybank Shared Services Sdn Bhd, and will run until May 31, 2029.
The agreement does not include an automatic renewal provision.
Mesiniaga said the contract is expected to contribute positively to the group’s earnings and net assets from the financial year ending Dec 31, 2026 to the completion of the contract.
The company noted that measures have been put in place to manage risks such as delivery timelines set by the customer.
This makes the second contract Mesiniaga has received from Maybank’s unit for this year.
On April 24, Mesiniaga announced that it bagged a RM51.64 million contract from Maybank Shares Services for the subscription of cloud infrastructure software and support services.
Shares of Mesiniaga were flat at RM1.23 at Friday’s noon break, valuing the group at RM74.3 million.