Newgen Software subsidiary wins major Malaysian banking contract

Newgen Software Technologies Pte. Ltd., a wholly-owned subsidiary of Newgen Software Technologies Limited, announced it has secured a Letter of Award for an Enterprise Content Management System from a prominent bank in Malaysia. The contract is valued at RM 6,465,400.80.

The agreement entails providing end-to-end project management services for the ECM system, with a projected execution period of five years. The counterparty is an international entity located in Malaysia, though the bank's name remains confidential.

The company confirmed that neither the promoter, promoter group, nor any group companies have an interest in the entity that awarded the contract. This transaction is not classified as a related party transaction under the Companies Act, 2013.