REDtone International Bhd’s (REDtone) unit, REDtone Engineering & Network Services Sdn Bhd (RENS) has received an approval notice for the provision and implementation project for RM250.76 million.

In a filing to Bursa Malaysia today, REDtone said the approval was from the Malaysian Communications and Multimedia Commission to appoint RENS as universal service provider for the provision and implementation of Time 3 Extension Phase 3 (Part 2) project, for the installation of 2G and 3G public cellular services in rural areas in eight major states of Malaysia.

It said the project would not have any material effect on the net assets and gearing of REDtone Group for the financial year ending April 30, 2018.

“However, the project is expected to contribute positively to the REDtone Group’s financial performance in the future,” it said.

Source: Bernama