KUALA LUMPUR (July 16) : Privasia Technology Bhd has secured two contracts worth RM46.49 million in total from Westports Malaysia Sdn Bhd (Westports) to provide IT network, security, outsourcing and management services.

In a Bursa Malaysia filing today, the group said the contracts were secured via its wholly-owned Privasia Sdn Bhd (PSB).

The first is a one-year contract for IT network, security, internet outsourcing and managed services worth RM6.36 million, while the second is a five-year IT outsourcing and managed services job worth RM40.13 million. Both contracts started from July 1.

“Under the one year contract, PSB is responsible for the purchase of new equipment necessary to provide the service as mutually agreed between Westports and PSB.

“For the five-year contract, PSB is responsible for the purchase of new equipment necessary to provide the service as mutually agreed between Westports and PSB. All equipment under this agreement shall be under lease to own or hire purchase,” it said.

Privasia shares closed unchanged at 24 sen today, giving it a market capitalisation of RM141.29 million.