Awanbiru Technology Secures RM25.7m Contract from Ministry of Education

Awanbiru Technology Bhd's (Awantec) subsidiary, Awantec Systems Sdn Bhd (ASSB) has secured a contract valued at RM25.7 million from the Ministry of Education (MOE).

In a filing with the bourse, Awantec said ASSB will provide cloud-based solutions, including Google Workspace for Education and Google Cloud Platform, to all MOE schools.

The contract will commence on July 9, and will last for 36 months until July 8, 2027.

Awantec said the letter of award presents a positive opportunity for the company.

"This project aligns with the Group's strategic goals and will contribute to the growth and success of the Group," it said.

Awantec said that ASSB's acceptance of the Letter of Award is anticipated to positively affect the company's future earnings per share and net tangible assets per share.

"MOE issued the contract to ASSB on July 1, 2024 and ASSB accepted it on July 4, 2024. The formalisation of the agreement between MOE and ASSB is currently underway," it noted.

Awantec's share price up 3 per cent to 44.5 sen a share, giving it a market capitalisation RM351.5 million.