KUALA LUMPUR, Dec 3 — G Capital Bhd via its wholly-owned subsidiary, GPB Corporation Sdn Bhd, has bagged a supplemental contract with the Ministry of Defence (Mindef) worth RM8.4 million.
Following this, the contract tenure has been extended for another one year until December 1, 2023, it said in a filing with Bursa Malaysia today.
G Capital said the unit has previously been awarded the contract for chartering of school buses for the children of the Malaysian Armed Forces nationwide from January 1, 2020 to December 31, 2022 for a contract value of RM44.2 million.
It said that with the supplemental deal, the total contract value for the whole period from January 1, 2020 to December 31, 2023 would amount to RM52.6 million.
“As at December 31, 2022, the group has recognised revenue of RM35.2 million from the agreement with Mindef.
“The supplemental agreement has unearned revenue potential of RM17.4 million to be realised for the financial year ending December 31, 2023,” it added. — Bernama
