NeraTel snags $11.8m worth of new contracts

SINGAPORE - Mainboard-listed Nera Telecommunications Ltd (NeraTel) announced on Friday (Aug 10) it has clinched a total of $11.8 million worth of new contracts for its network infrastructure (NI) business segment.

Under the contracts, NeraTel will provide NI equipment and maintenance to a repeat customer, who is a "leading service provider" in South-east Asia.

The networking firm provides a full suite of turnkey network and wireless solutions under its NI and wireless infrastructure network (WIN) business segments.

In July, the group separately announced it had secured separate NI and WIN contracts worth $11.7 million to provide services to a government entity in the Middle East and a leading South-east Asia service provider.

Earlier this year, NeraTel also scored its first contract with a key Malaysian telco for the design, supply, delivery, installation, maintenance and management of internet service.

NeraTel chief executive officer Beck Tong Hong said, "This quick succession of contracts is a testament of the management's drive to pursue contracts to strengthen NeraTel's order intake to ensure sustainable long-term growth. Repeat contracts from such prominent customers also underscore our competitiveness and ability to deliver effective and tailored solutions for our customers, as we continue to press forward in our plans to grow the NI segment."

The new contracts are expected to contribute positively to the group's financial performance from the fiscal year ending Dec 31, 2019.