The contract win yesterday also coincided with the announcement of the emergence of a new substantial shareholder, Azlan Abdul Kadir, who holds a 6.46% stake in Datasonic via Demi Mekar Sdn Bhd. At 2.40pm today, Datasonic pared some gains but was still up 11 sen or 7.64% at RM1.55, giving the information technology solutions outfit a market capitalisation of RM2.09 billion. The one-year contract, worth RM6.97 million, is to supply the Immigration Department with 16 units of e-gate with facial recognition system at the Malaysia-Singapore entry and exit points. This is the second contract bagged by Datasonic after former managing director and chief executive officer Datuk Abu Hanifah Noordin disposed of his stake in the group in mid-December and eventually ceased to be its substantial shareholder. Just mid last month, Datasonic had announced a one-year contract extension to supply 6.1 million raw MyKads and MyKad consumables to the government.
Source: The Edge Markets February 04, 2020 06:56 UTC