TMS set for KTM job (Star)

Internet-based applications and solutions provider The Media Shoppe Bhd (TMS) and Hopetech Sdn Bhd are expected to be jointly awarded a RM21mil contract to design, supply and commission passenger information and closed-circuit television systems for KTM Bhd.

The job will take up to 14 months to implement and will be awarded by the Transport Ministry, according to sources.

TMS recently created headlines when its stock shot up on the day it announced that it had entered into a teaming agreement with Konsortium Jaya Sdn Bhd, a subsidiary of Lembaga Tabung Haji, to submit a proposal to the Government in relation to a management system project for 10,000 schools nationwide.

TMS had not elaborated on the school project but StarBiz had reported that it was valued at some RM450mil and would involve the supply of education software to the schools.

When and should it materialise, the project will supposedly turn the loss-making TMS around, according to a source.

It should be noted that following the rights issue, TMS is now sitting on a cash pile of some RM33mil, which allows it to fund various projects to expand its business.