Microlink Solutions Berhad through its subsidiary has received the Letter of Award from MoF’s Public Housing Finance Board for the procurement and maintenance of the Loan Management System for a period of 5 years.
The project commencing from 1 April 2023 until 31 March 2028 will be for a total contract value of RM17.7 million with no clause on renewal in the LOA.
The company added the LPPSA Contract is subject to a formal agreement to be entered into between both parties. The LOA will also have no effect on the issued share capital of substantial shareholders’ shareholdings in the Company. It is expected to contribute positively to the revenue, earnings per share, and net assets per share of the MSB Group and is not expected to have a material effect on the gearing of the MSB Group for the financial year ending 31 March 2023 onwards until the expiry of the LPPSA Contract.
The Company does not foresee any exceptional risks other than the operational risk associated with the LOA during the LPPSA Contract period.
