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KUALA LUMPUR (September 15): Omesti Bhd has obtained a contract worth RM14.44 million from the Department of Road Transport (JPJ) for the maintenance of the Automated Awareness and Safety System (AwAS).
In an exchange presentation today, Omesti said that its indirect subsidiary Formis Network Services Sdn Bhd (FNS), which is 51% owned, received the letter of award (LOA) from JPJ yesterday.
He said the duration of the project is 18 months, from September 14, 2020 to March 13, 2022.
Omesti added that the contract is subject to acceptance of the LOA by FNS and a formal agreement to be entered into between JPJ and FNS.
Omesti said the LOA is expected to contribute positively to its revenue, earnings per share (EPS) and net assets per share, and is not expected to have a material effect on its leverage for the financial year ending March 31, 2021. (AF21) onwards. until the expiration of the contract.
At noon today, Omesti was 4.55% or 2.5 sen higher at 57.5 sen, giving it a market capitalization of RM305.23 million.
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