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Dataprep closes in on RM600m China contract
KUALA LUMPUR - Dataprep Holdings Bhd, which is controlled by tycoon Datuk Lim Chee Wah, is close to securing a major information technology contract in China.
Business Times understands that the five-year contract could be worth as much as RM600 million, and that an announcement on the matter would be made by as early as next week.
The 58-year-old Lim is the youngest son of the late gaming magnate Tan Sri Lim Goh Tong. His Dataprep is the first Malaysian IT company to be listed on the local stock exchange. Lim controls 53.09 per cent of Dataprep via privately-owned VXL Holdings Sdn Bhd. Lim has been keeping a low profile in the corporate scene for some time now but has quietly restructured Dataprep’s business focus. The focus now is to bring in more jobs from abroad as all of Dataprep’s contracts are currently homebased. Since June last year, Dataprep had secured projects worth RM100 million from government-linked entities, such as the Employees Provident Fund, Tenaga Nasional Bhd, Telekom Malaysia Bhd and Celcom Axiata Bhd. The company also has business interests in China and Indochina. In December last year, Dataprep chief executive officer Ahmad Rizan Ibrahim was reported to have said that under the company’s turnaround plan, it wanted overseas contribution to make up 10 per cent of the group’s revenue. “We are in the process of clinching some contracts and, if successful, the revenue should be realised during the 2013 financial year,” he was quoted as saying by a local daily. According to the report, Ahmad Rizan declined to disclose the value of the contracts, except to say that they were “reasonably-sized projects” that would happen soon. Speculation that Dataprep will soon announce the contract has helped its share price to increase by as much as 21.62 per cent this year, compared with the 2.44 per cent increase in the benchmark index. Related Post :
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