Key ASIC announced that it has secured a major ASIC design contract with a NDA signed client, referred to as "R Company," worth over RM10 million over the next three years.
The breakdown of the contract involves RM7M allocated to Year 1, while Year 2 and Year 3 each receive a minimum of RM1.5 million. The group said the contract is likely to generate recurring income over the next several years.
The contract comprises of two key components: a Non-Recurring Engineering (NRE) fee, which includes IP licensing and design engineering services, and revenue generated from the mass production of the chips.
The projects it added are currently in the Research and Development phase, and the chip is expected to go into sample production first half of 2025.
