Ntegrator secures 2 contracts worth S$29m

COMMUNICATIONS network company Ntegrator International said on Monday (Mar 14) that it has won 2 contracts worth a total of S$29 million from the same regional telecommunications network service provider.

In a bourse filing, the Catalist-listed company said both contracts have an option for a 1-year extension, and the total value of the contracts inclusive of the options would be worth a maximum of around S$43.5 million.

The first contract is a 2-year S$26 million deal for installation, maintenance and diversion services of fibre and copper cables in Singapore. The customer, who was not named, has an option to extend the contract by an additional year for S$13 million.

The second 2-year contract - worth S$3 million - for the provision, installation and maintenance of fibre cables and other telecommunication equipment for commercial buildings also includes an extension option of S$1.5 million.

Ntegrator noted its order book as at end-2021 stood at S$67.9 million. It expects all its orders to be delivered within the next 24 months, and "will generate sustainable revenue streams for the group up to FY2024".

The contracts are not expected to have any material impact on earnings of the group for the financial year ending Dec 31, 2022.

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The counter closed unchanged on Monday at S$0.005, before the announcement.