Mesiniaga secures RM148mil KWAP pension system contract
In a filing with Bursa Malaysia, the technology solutions provider stated the scope of work includes the supply, delivery, installation, testing and commissioning of the system.
The total contract value also includes an optional support and maintenance package worth RM64.51mil, which will cover services from the fifth to the eighth year of the project.
The project is slated for completion by July 2028, with an optional support period extending to July 2033 if exercised, though Mesiniaga noted the contract does not carry an automatic renewal clause.
It added the contract is expected to contribute positively to the group's earnings and net assets from the financial year ending Dec 31, 2025, onwards.
In the first quarter of the financial year ending Dec 31, 2025 (1Q25), Mesiniaga posted a lower net profit of RM1.68mil as compared to RM3.01mil in the same quarter of the previous financial year. Its revenue, however, saw a slight increase from RM53.06mil in 1Q24 to RM53.92mil in 1Q25.
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