Addvalue Technologies has secured a new order through one of its key growth drivers, Space Connectivity-related Business.
According to the group, the new order comprises repeat orders for multiple numbers of Inter-Satellite Data Relay System (IDRS) terminals worth US$1.5 million from an existing client.
The group adds that the client is currently providing their spaced-based services with IDRS solutions. The new order is part of their satellite fleet expansion plans to address business demands.
Following the new order, the group’s order book stands at US15.3 million as at Dec 11.
The group expects the new order to be fulfilled within the next 12 months and is set to have material positive impact on the next financial year of Addvalue.
Shares in Addvalue closed flat 1.1 cents on Dec 11.
