OTHERS Acceptance of a Letter of Award from Universiti Sains Malaysia to Supply, Deliver, Install, Configure, Test and Commission Core Switches, Distribution Switches, DDI Solution and IPV6 Implementation for Pusat Pengetahuan Komunikasi dan Teknologi, Universiti Sains Malaysia, Pulau Pinang (the Contract).

MESINIAGA BERHAD

Type Announcement
Subject OTHERS
Description
Acceptance of  a Letter of Award from Universiti Sains Malaysia to Supply, Deliver, Install, Configure, Test and Commission Core Switches, Distribution Switches, DDI Solution and IPV6 Implementation for Pusat Pengetahuan Komunikasi dan Teknologi, Universiti Sains Malaysia, Pulau Pinang (the Contract).
  1. Introduction

Mesiniaga Berhad is pleased to announce that the Company has on 16/6/2017 accepted a Letter of Award from Universiti Sains Malaysia to Supply, Deliver, Install, Configure, Test and Commission “Core Switches, Distribution Switches, DDI Solution and IPV6 Implementation” for Pusat Pengetahuan Komunikasi dan Teknologi, Universiti Sains Malaysia, Pulau Pinang (the “Contract”).

2. The Contract Value

The total contract value of the project is RM10,215,222.68 (Ringgit Malaysia : Ten Million Two Hundred Fifteen Two Hundred Twenty Two and Sen Sixty Eight) including GST.


3. Duration of the Project

The Contract is for a period of two months commencing on 19/6/2017 followed by a 1 year Maintenance period.

4. The effect on net assets of the Group

The proposed transaction will not have any material effect on the Company’s Net Assets for the financial year ending 31 December 2017 but is expected to contribute positively to the Company’s earnings over the period of the Contract.

5. The risks in relation to the Contract.

The risks relate mainly to meeting deadlines imposed by the customer and meeting the terms of the service level commitments.  The Company has however taken the necessary steps to protect itself in mitigating the risks.

6. Directors' and Substantial Shareholders' Interest

None of the Directors or substantial shareholders or any person connected to the Directors or substantial shareholders of Mesiniaga Berhad have any interest, either direct or indirect in the above Contract.

7. Statement of the Directors

The Board of Directors of the Company is of the opinion that the above Contract is in the ordinary course of business and is in the best interests of the Company.


8. Financial effects

In addition to the information disclosed, we would like to inform that the Letter of Award will have a positive effect on the earnings per share. Nevertheless, the Contract will not likely to effect on the dividend policy, gearing, share capital and the substantial shareholders’ shareholdings of the Company for the financial year ending 31st December 2017.

 

This announcement is dated on 19/6/2017.






Announcement Info

Company Name MESINIAGA BERHAD
Stock Name MSNIAGA
Date Announced 19 Jun 2017
Category General Announcement for PLC
Reference Number GA1-19062017-00085