Theta Edge unit wins RM673.8mil IoT contract


KUALA LUMPUR: Theta Edge Bhd's wholly-owned subsidiary, Theta Telecoms Sdn Bhd, has secured a RM673.8 million contract for developing, providing and maintaining Internet of Things (IoT) technology for smart business initiatives in Ampang Jaya.

In a filing to Bursa Malaysia, the information communication and technology service provider announced that the contract, awarded by the Ampang Jaya Municipal Council, will run for 240 months, from July 15, 2024 to July 14, 2044.

It said Theta Telecoms accepted the offer letter by executing the letter of acceptance today.

Theta Edge said the contract will enhance the company’s position in digital telecommunication engineering services, specialised communication networks and the smart city industry.

"It is expected to positively impact the company's earnings per share and net assets per share for the financial year ending Dec 31, 2024 and beyond until project completion," it added. - Bernama

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Theta Edge , IoT , MPAJ , Internet of Things

   

Next In Business News

Greater clarity on TNB’s floating solar project, hydropower station rehab
Kelington posts RM33mil profit in 3Q24
China’s yuan weakens to three-month low
Hartalega posts RM41mil earnings in 1H
Guocoland braces for challenges
Sarawak’s infrastructure growth to boost KKB Engineering
Singapore project to lift Sunway’s 3Q24 earnings
Pioneering car chip design
China businesses pump large sums into R&D
EPF dividend likely to top 6%

Others Also Read