KUALA LUMPUR: Mesiniaga Bhd has secured a RM148 million contract to supply, deliver, install, test and commission a new pension system (NPS) for Retirement Fund Inc (KWAP).
In a filing with Bursa Malaysia, Mesiniaga said the total contract value includes government sales and service tax, an optional support and maintenance package, worth RM64.5 million for the fifth to eighth years.
“The project is set to be completed in July 2028, while the optional support and maintenance package is to be completed by July 2033.
“There is no automatic renewal clause in the contract,” it said.
Mesiniaga noted that the contract will not affect the company’s share capital or the shareholdings of its substantial shareholders.
“The contract is expected to contribute positively to the group’s earnings and net assets for the financial year ending Dec 31, 2025, onwards until the completion of the contract,” it added.