News

INTRODUCTION

AWANTEC is pleased to announce that its wholly-owned subsidiary company, Prestariang Systems Sdn Bhd (“PSSB”), has received a Letter of Appointment from Malaysian Administrative Modernisation and Management Planning Unit (MAMPU) as part of a panel of Managed Service Providers (MSP) for the provision of Cloud Services to Malaysia’s public sector agencies to support Malaysia’s public sector digital transformation initiatives in alignment to the Government Economic Transformation Plan] (“Contract”).

INFORMATION ON THE CONTRACT

The scope of the Cloud Services covers Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS) and Anything as a Service (XaaS). PSSB is the local partner to Google Cloud for the fulfilment of the above services to Malaysia’s public sector.

The Contract shall be for a period of 3 years commencing on 1 March 2021 and subject to parties’ execution of a Framework Agreement.

FINANCIAL EFFECTS

The total value of the Contract will depend on the actual fulfilment of the services as procured from the client during the Contract period. The Contract is expected to contribute positively towards the earnings and net assets per share of AWANTEC Group for the duration of the Contract.

RISK FACTORS

Risk factors affecting the Contract include, but not limited to, execution risks such as availability of skilled manpower and cost for manpower and tools required to perform the Contract. AWANTEC Group has, throughout the years, established its track record and expertise to mitigate execution risks for such projects.

The Contract may also be subjected to external risk factors such as the global, regional or national economic or health crisis.

INTEREST OF DIRECTORS, MAJOR SHAREHOLDERS AND PERSONS CONNECTED

None of the Directors and/or major shareholders and/or persons connected with the Directors and/or major shareholders of the Company has any direct or indirect interest in the Contract.

This announcement is dated 19 February 2021.