KUALA LUMPUR (Jan 7): Microlink Solutions Bhd has accepted a letter of award from Payments Network Malaysia Sdn Bhd (PayNet) for the supply and implementation of a Real-Time Electronic Transfer of Funds and Securities System (Rentas) platform replacement worth RM27.43 million.

In a bourse filing, the company said the contract sum includes five years of support and maintenance.

"The letter of award will have no effect on the issued share capital of the company but it is expected to contribute positively to the earnings and net assets of the company during the contract period principally for the financial period ending March 31, 2019, and the financial period thereafter," it said.

PayNet is the holding company for Malaysian Electronic Payment System Sdn Bhd (MEPS) and MEPS Currency Management Sdn Bhd (MCM). The PayNet group is Malaysia's premier payments network and central infrastructure for financial markets.

Bank Negara Malaysia is PayNet's single largest shareholder, with joint shareholders comprising Malayan Banking Bhd, RHB Bank Bhd, Public Bank Bhd, CIMB Bank Bhd, AmBank (M) Bhd, Hong Leong Bank Bhd, Affin Bank Bhd, Alliance Bank Malaysia Bhd, Bank Islam Malaysia Bhd, Bank Muamalat Malaysia Bhd and Bank Kerjasama Rakyat Malaysia Bhd.

Microlink's share price fell 0.5 sen or 0.92% to close at 54 sen, giving a market capitalisation of RM90.38 million.