Mesiniaga secures RM49.33m worth contract from Astro

by TMR / pic by TMR FILE

MESINIAGA Bhd has secured a contract worth RM49.33 mil from Measat Broadcast Network Systems Sdn Bhd a wholly owned subsidiary of Astro Malaysia Holdings Bhd for supply and commissioning of Internet Service Provider Core Infrastructure.

In a filing to Bursa Malaysia today the company said the contract duration is from 30 September 2021 to 28 February 2027 with no clause in the Contract on automatic renewal.

Mesiniaga added the potential risks relate mainly to meeting the terms of the service level commitments and deadlines imposed by the customer. The Company has taken the necessary steps to mitigate the risks.

“The Contract will not affect the share capital and substantial shareholders’ shareholdings of the Company; however, it is expected to contribute positively to the Group’s earnings and net assets for the financial year ending 31 December 2021 onwards until the expiry of the Contract,” said Mesiniaga.