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Addvalue Tech secures new IDRS order worth US$2.1 mil

Bryan Wu
Bryan Wu • 1 min read
Addvalue Tech secures new IDRS order worth US$2.1 mil
Addvalue's current unfulfilled order book stands at US$10.2 million.
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Addvalue Technologies A31 -

has secured a new order worth US2.1 million ($2.8 million) for its space connectivity business on March 27.

The order for inter-satellite data relay system (IDRS) terminals is a repeat order from an existing IDRS customer. 

The latest order has brought the company‘s order book to US$19.4 million, taking into account the US$9.2 million of the order book fulfilled from April 1, 2023 to Feb 29. The current unfulfilled order book stands at US$10.2 million. 

Barring any unforeseen circumstances, Addvalue expects its order book to be significantly fulfilled in the next 12 months. 

The company expects the latest order to be partially fulfilled within and have a material positive impact on the FY2024 ending March 31.

Shares in Addvalue closed 0.1 cent higher or 14.29% up at 0.8 cents on March 27.

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