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Monday, 16 April 2018 | MYT 9:50 AM

Datasonic shares rise 6.8% on RM270m contract win

KUALA LUMPUR: Datasonic Group Bhd’s share price rose almost 7% this mroning on news of it securing a RM270.71mil contract from the Home Ministry.

The counter rose 6.88%, or 6.5 sen to RM1.01 with 3.6 million shares done. DSonic-C2 surged 300% to two sen while DSonic-C4 jumped 100% to one sen.

Datasonic’s wholly-owned subsidiary Datasonic Technologies Sdn Bhd (DTSB) has accepted a letter of award (LOA) from Kementerian Dalam Negeri Malaysia (KDN), for the supply of 9.96 million polycarbonate biodata pages to Jabatan Imgresen Malaysia (JIM) worth RM270.71mil.

Datasonic said the contract is for a period of 46 months, from Feb 1, 2018 till Nov 20, 2021.

The company also said during the term of the LOA, DTSB is required to furnish a performance bond for the amount of RM3.53mil to KDN, from Feb 1, 2018 till Nov 30, 2022.