Mesiniaga secures RM148mil order from KWAP for new pension system
In a filing with Bursa Malaysia, the IT solutions provider said the contract encompasses the provision, delivery, installation, testing and commissioning of the system.
Mesiniaga will also offer an optional support and maintenance package worth RM64.5 million covering services from the fifth to the eighth year.
The project is slated for completion by July 2028, while the optional maintenance package, if exercised, will extend until July 2033.
The company said there is no automatic renewal clause tied to the agreement.
"The contract will not affect the share capital and substantial shareholders' shareholdings of the company.
"However, it is expected to contribute positively to Mesiniaga's earnings and net assets for the financial year ending Dec 31, 2025 onwards until the completion of the contract," it added.
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