In a filing to Bursa Malaysia, Datasonic said it was awarded the five-year contract based on the value proposition of enhanced chips security and 15% lower pricing than the previous vendor, giving total savings of RM56.25 million to the government over a period of five years.
“We wish to clarify that neither the company nor any of its directors issued any payment to Ahmad Zahid Hamidi in relation to the supply of 12.5 million chips for Malaysian passports,” it added.
As at lunch break, Datasonic’s share price, which was among the top three most active counters, lost 25.5 sen to 44 sen with 58.59 million shares traded.
Trading in Datasonic shares has been suspended for rest of the day as its last done price dropped more than 15 sen or 15% from the reference price.