Home Business Company linked to Azim Zabidi likely to get RM160 mln biometric contract

Company linked to Azim Zabidi likely to get RM160 mln biometric contract


KUALA LUMPUR, Feb 20 – A company linked to Datuk Seri Abdul Azim Zabidi may have secured a “biometric authentification” contract worth RM160 million. Declining to divulge details, a key aide to Abdul Azim said the former BSN chairman might hold a media briefing tomorrow to explain details about the contract.

It is widely known that the businessman is in the midst of entering the boardroom of Patimas Computers Bhd, a financial distressed company.  Abdul Azim via Syawaras Sdn Bhd and together with China Private Equity Investment Holdings Ltd owned close to 15 per cent in Patimas Computers. The company and its subsidiaries are principally engaged in the provision of information and communications technology services, solutions and products.
Patimas Computers, which falls under the Practice Note 17 criteria, needs to be rescued or faces Bursa Malaysia’s delisting.  It reported a net audited loss of RM85 million for the financial year ended March 31, 2012.

imagesMeanwhile, in a filing to Bursa Malaysia yesterday, Patimas Computers said it had granted a restraining order from a court stopping its creditors from taking legal action for a period of 60 days.

“The restraining order will allow Patimas to focus on formalising the proposed schemes of arrangements unhindered without having to divert its attention and resources to defending and dealing with any proceedings and actions from the group’s creditors,” it said.

It said details of the proposed schemes of arrangement will be announced in due course.