Data­sonic re­sub­mit­ting pro­pos­als for Malaysian pass­ports

New Straits Times - - BUSINESS / NEWS - DATUK ABU HANIFAH NO­ORDIN Ooi Tee Ching

CYBERJAYA: Data­sonic Group Bhd will sub­mit fresh pro­pos­als to the Home Af­fairs Min­istry to make Malaysian pass­ports. This is fol­low­ing the change in gov­ern­ment last month.

Man­ag­ing direc­tor Datuk Abu Hanifah No­ordin said all pro­pos­als sub­mit­ted in the past would have to be re­viewed and re­sub­mit­ted as the new gov­ern­ment had dif­fer­ent pri­or­i­ties, con­straints and ob­jec­tives.

“We will sub­mit new pro­pos­als on Malaysian pass­ports as we have al­ways of­fered the best value, and our pric­ing is lower than the pre­vi­ous ten­der.

“Our project awards are mainly from com­pet­i­tive ten­ders,” he said af­ter the com­pany’s share­hold­ers meet­ing, here, yes­ter­day.

He said, for ex­am­ple, the com­pany’s pass­port project, when first in­tro­duced, was 15 per cent cheaper than the ex­ist­ing ven­dor and the qual­ity of the com­pany’s pass­ports was 10 times bet­ter.

At the ex­tra­or­di­nary meet­ing yes­ter­day, Data­sonic share­hold­ers ap­proved the is­suance of 675 mil­lion free war­rants on the ba­sis of one free war­rant for every two ex­ist­ing shares.

If the war­rants are fully ex­er­cised at RM1.01, the gross pro­ceeds will be RM681.75 mil­lion, which will be utilised to strengthen Data­sonic’s cap­i­tal base and pro­vide the group with ad­di­tional work­ing cap­i­tal.

Two months ago, Data­sonic an­nounced it was buy­ing a fac­tory in Klang for RM18.88 mil­lion for smart card man­u­fac­tur­ing.

In­ci­den­tally, its unit, Data­sonic Tech­nolo­gies Sdn Bhd, had also se­cured a RM270.71 mil­lion con­tract from the Home Af­fairs Min­istry to sup­ply 9.96 mil­lion poly­car­bon­ate bio­data pages to the Im­mi­gra­tion Depart­ment of Malaysia. Data­sonic has fur­nished a RM3.5 mil­lion per­for­mance bond to the min­istry, ef­fec­tive Fe­bru­ary 1 this year to Novem­ber 30 2022.

On earn­ings, Data­sonic net profit rose 7.32 per cent to RM67.24 mil­lion for fi­nan­cial year (FY) 2018, com­pared with RM62.66 mil­lion in FY17.

Rev­enue fell 18.77 per cent year-on-year to RM258.6 mil­lion, from RM318.35 mil­lion pre­vi­ously.

All pro­pos­als would have to be re­viewed and re­sub­mit­ted as the new gov­ern­ment has dif­fer­ent pri­or­i­ties, con­straints and ob­jec­tives.

Data­sonic Group MD

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