Mesiniaga Bhd has secured a contract valued at RM148.01 million from the Retirement Fund (Incorporated) (KWAP) for the development and implementation of a new pension system for the statutory body.
In a filing with Bursa Malaysia, the technology solutions provider confirmed that the agreement encompasses the supply, delivery, installation, testing, and commissioning of the system. The contract also includes an optional support and maintenance package valued at RM64.51 million, which, if exercised, will extend support services from the fifth to the eighth year of the project.
The core implementation is scheduled for completion by July 2028. Should the optional support period be activated, Mesiniaga’s engagement would extend to July 2033. The contract does not include an automatic renewal clause.
Mesiniaga noted that the contract is expected to contribute positively to its earnings and net assets beginning from the financial year ending 31 December 2025.
For the first quarter of the financial year ending 31 December 2025, the company recorded a net profit of RM1.68 million, compared with RM3.01 million in the corresponding quarter of the previous year. Revenue increased marginally to RM53.92 million from RM53.06 million in the first quarter of 2024.
-The Star
