NOVA MSC BERHAD
11 Sep 2020
|Type||Reply to Query|
|Reply to Bursa Malaysia’s Query Letter – Reference ID||IQL-10092020-00003|
|Subject||Contract awarded to EyRIS Pte Ltd from Integrated Health Information Systems (Contract)|
|Description||Nova MSC Berhad (NOVAMSC or the Company)
Clarification on the article in The StarBiz dated 8 September 2020 : Nova MSC unit wins Spore ministry contract.
|Query Letter Contents||We refer to your Company’s announcement dated 8 September 2020, in respect of the aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following additional information for public release:-
Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.
Cc : Market Surveillance Dept., Securities Commission (via fax)
We refer to our announcement dated 8 September 2020 on the clarification on the The StarBiz article published on 8 September 2020: “Nova MSC unit wins S’pore ministry contract” (“Announcement”) and the query from Bursa Securities dated 10 September 2020 in relation to the Announcement (“Query Letter”). Unless otherwise stated, the terms used throughout this announcement shall have the same meanings as defined in the Announcement.
We wish to announce the following additional information as required by Bursa Securities pursuant to the Query Letter:
Q1 The date on which the Contract was awarded
The contract (“Contract”) between Integrated Health Information Systems Pte. Ltd. (“IHiS”) and EyRIS Pte. Ltd. (“EyRIS”) was dated 7 September 2020.
Q2 The risks in relation to the Contract
No material risk arising from the Contract is expected, other than the normal operational risk associated with the Contract.
Q3. The commencement and completion dates of the Contract
The Contract commenced on 7 September 2020 and shall continue to be valid and in effect for as long as EyRIS is providing services under the Contract unless terminated prematurely in accordance with the Contract. The Contract envisages, inter alia, services to be provided for at least five (5) years.
Q4 The Value of the Contract
The value of the Contract is currently indeterminate. Under the Contract, the contract price may vary depending on, inter alia, the software and services actually supplied by EyRIS, and the number of patients who use the software.
As disclosed in the Company’s announcement dated 8 September 2020, the Contract is not expected to have any material impact on the Group’s upcoming financial performance.
Q5 Details/nature of the Contract
Under the Contract, EyRIS agreed to, inter alia, (i) supply software to IHiS, including the Singapore Eye Lesion Analyser Plus (SELENA+) software powered by artificial intelligence analytics to detect abnormal fundus images, namely Diabetic Retinopathy, Glaucoma, and Age-Related Macular Degeneration; and (ii) perform certain services in connection with the supply of the software, such as implementation and maintenance and support services. The amount to be paid by IHiS to EyRIS for the software and services may vary depending on, inter alia, the software and services actually supplied by EyRIS, and the number of patients who use the software.