Tricubes lands RM6m deal to manage PDRM’s mobile systems
KUALA LUMPUR, Jan 3 – Cash-strapped Tricubes Bhd has been awarded a RM6 million contract by the Home Ministry to maintain the Royal Malaysian Police’s (PDRM) mobile systems for two years starting January 1.
In a filing to Bursa Malaysia today, the company said TricubesNCR JV Sdn Bhd bagged the deal to maintain the Enhanced Mobile Management System (EMMS) and Mobile Card Acceptance Device (MCAD) on December 30, 2011.
TricubesNCR JV Sdn Bhd is 70 per cent owned by Tricubes.
“The award is expected to contribute positively to the earnings and net assets per share of the group from the financial year ending 31 March 2012 and is not expected to have any material effect on the gearing of the company.
“The company does not foresee any exceptional risk other than normal operational risk associated with the award. The company will take the necessary steps to mitigate the risks as and when it occurs,” Tricubes said in the filing.
Today’s announcement follows Tricubes’ appointment as PDRM traffic fines collection agent in November last year.
The financially troubled company has reportedly also approached three other government agencies to use its controversial 1 Malaysia email push billing email system and will begin pilot trials soon.
The agencies are Kuala Lumpur City Hall (DBKL), Road Transport Department (JPN) and the Employees Provident Fund (EPF).
The ACE-listed company – which reported a loss of RM1.87 million for the quarter ended September – recently revealed its had lost RM17.2 million in the last financial year and not RM7.3 million, as stated in its annual report.
It said the mistake was due to “typo errors” on pages 49, 61 and 98 of the annual report for the financial year ended March 31.
Tricubes was tapped in April last year to develop the 1 Malaysia email project, or myemail, expected to save the federal government RM200 million over 10 years by halving the cost of sending official correspondence to 50 sen.
While basic email is free for Malaysians above the age of 18, users will have to pay for premium services such as end-to-end encryption and push billing services.
Tricubes chief executive Khairun Zainal Mokhtar admitted at a press briefing last April that the controversial RM50 million myemail project was a financial lifeline for the technology company.
The company aims to sign up 5.4 million users by year-end but has so far only managed to register several thousand, most of whom were ported over from trial accounts.