KUALA LUMPUR (Oct 6): Mesiniaga Bhd (KL:MSNIAGA) has won a RM32.3 million contract from the Royal Malaysian Customs Department (RMDC) for the maintenance and licence renewal of its MyGST System.

The contract marks a continuation of the information technology product and service provider’s earlier MYGST system agreement with RMCD that first started in November 2023.

The new extension, which takes effect from Oct 16, 2026, will run until Oct 15, 2028. According to the company’s bourse filing on Tuesday, the agreement does not include an automatic renewal clause.

The MyGST system is the Customs Department's legacy online system for administering goods and services tax (GST), which was Malaysia's broad-based consumption tax from April 2015 until its abolition in September 2018.

Malaysia's current sales and service tax (SST) system is administered through MySST, but MyGST system remains in operation as the agency maintains it to support other tax administrative matters, fulfil statutory/legal requirements and work procedures.

Mesiniaga said the contract is expected to contribute positively to the group’s earnings and net assets for the financial year ending Dec 31, 2026 (FY2026) and subsequent periods until completion.

For the first half of FY2026, Mesiniaga’s net loss narrowed to RM0.95 million from RM2.13 million in the previous period, while revenue was up by 22.4% to RM113.2 million. The group said it saw higher revenue from projects and services deliveries.

Shares of Mesiniaga were down by one sen or 0.9% to RM1.16 at market close on Tuesday, giving the group a market value of RM70.1 million.