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 has 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.

Source: BERNAMA News Agency