EA HOLDINGS BERHAD AWARDED RM59 MILLION PROJECT BY LEMBAGA HASIL DALAM NEGERI MALAYSIA
12 Jul 2013 11:19
Company confident of securing more projects of significant sizes in foreseeable
KUALA LUMPUR, July 11 (Bernama) -- In a filing to Bursa Malaysia on 10 July, EA
Holdings Berhad (EAH) announced that EASS Sdn Bhd, a wholly-owned subsidiary
company of EAH, has received and accepted a Letter of Award from Lembaga Hasil
Dalam Negeri Malaysia (â€œLHDNMâ€) for the provision of mainframe system upgrade
services for LHDNMâ€™s central and secondary data centres (â€œthe Projectâ€).
The Project value to the EAH Group is RM59.14 million and is expected to be
completed within six (6) months from the date of the Letter of Award, and will
be extended for another three (3) years for licensing and maintenance services.
The Project is expected to contribute positively to the earnings and earnings
per share of the EAH Group for the duration of the Project. The contribution to
earnings arising from the Contract is expected to have a positive effect on the
net assets of the EAH Group for the current and future financial years.
EAH has an extremely strong and proven track record with LHDNM. In 2012, the EAH
Group successfully completed the relocation of LHDNMâ€™s data centre under another
project valued at RM6.6 million. Currently, EAH is also implementing a software
licensing renewal exercise for LHDNM valued at RM12.7 million.
In addition to its successes at LHDNM, the EAH Group has also secured and
completed sizeable projects for other statutory bodies and GLCs, and is
confident of securing additional projects of significant sizes in the
EAH is also in the midst of acquiring an equity stake in Plant Offshore Berhad
(â€œPOBâ€), as per its announcement to Bursa Malaysia dated 6 May 2013, in its
effort to expand and realise new channels of revenue. POB is active in the Oil &
Gas, Biomass and Renewable Energy sector.
For the first quarter of Financial Year ending 31 December 2013, EAH recorded
revenue of RM11.3 million. With the award of this new contract plus other
projects secured in the pipeline, EAH is confident of achieving revenue of RM90
million for the current financial year. Compared to revenue recorded in the
previous financial year ended 31 December 2012 of RM46 million, this represents
an increase of RM44 million or 95.7% in revenue.
SOURCE : EA Holdings Berhad
FOR MORE INFORMATION, PLEASE CONTACT:
NAME : Mr Kevin Tay
CFO of EAH Group
E-MAIL : firstname.lastname@example.org