CFA Society Singapore
SINGAPORE (April 24): Nera Telecommunciations (Neratel) has received contracts of approximately $7.15 million in aggregate in relation to the supply, delivery, installation and maintenance of security application equipment to a telecom operator in the Philippines.
In its Monday aftermarket filing to the SGX, the telecom and IT solutions provider says it does not expect the contracts to have a significant impact on its results for the current financial year.
“We are delighted to have received the contracts. This goes to show our strong relationship with this tier-one operator, and demonstrates our strengths in the security applications space,” says Neratel’s acting CEO, Beck Tong Heng, in an e-mailed statement on the same day.
“We are also seeing a renewed focus for network security solutions in other business sectors, and this will present further opportunities for us to grow our network security business,” he adds.
Shares of Neratel closed 1 cent lower at 39 cents.