Newgen Software Technologies Limited has accepted an award letter for a significant international contract valued at RM 6,750,000 (approximately ₹15.65 Crore). The order involves providing its Retail Loan Origination Solution, including software licensing, implementation, and cloud hosting services, to a leading bank in Malaysia. The contract duration is set for 5 years, marking another successful expansion of Newgen’s solutions portfolio in Southeast Asia.
International Contract Awarded
Newgen Software Technologies Limited announces receipt and acceptance of a crucial letter of award from a leading Bank in Malaysia. The company has chosen Newgen’s solution for its retail operations, highlighting the competitive strength of Newgen’s product suite in international markets. The customer’s identity is being withheld due to confidentiality clauses.
Details of the Agreement
The core of the contract centers on the Software license, implementation, cloud hosting and support for the Retail Loan Origination Solution. Key details are summarized below:
- Entity Awarding Order: A leading Bank in Malaysia.
- Country of Operation: Malaysia.
- Nature of Order: Software license, implementation, cloud hosting, and support for Retail Loan Origination Solution.
- Execution Period: The contract is set to be executed over a period of 5 years.
Financial Consideration
The total value of the order awarded is substantial. The broad consideration is RM 6,750,000 (Ringgit Malaysia Six Million Seven Hundred Fifty Thousand Only). This value has been converted to Indian Rupees based on the specified exchange rate of RM 1 = INR 23.18, resulting in a converted value of Rs. 15,64,71,750 (Fifteen Crore Sixty-four Lakh Seventy-one Thousand Seven Hundred and Fifty Indian Rupees).
Compliance Statement
The Company confirms that the entity awarding the contract is an international entity and that the promoter/promoter group has No interest in the counterparty. Furthermore, the transaction does not fall within the definition of a related party transaction as per applicable corporate law provisions. The event occurred on 31st March 2026.
Source: BSE
