Newgen Software Technologies Limited Secures Retail Loan Origination Order Worth RM 6,750,000
Newgen Software Technologies Limited announced it has received and accepted a letter of award for a Retail Loan Origination Solution. The order, valued at RM 6,750,000 (Ringgit Malaysia Six Million Seven Hundred Fifty Thousand Only), encompasses software licensing, implementation, cloud hosting, and support services.The contract was awarded by a leading bank in Malaysia, with the customer's name withheld due to confidentiality agreements. The project is an international order with a five-year duration. The equivalent value in Indian Rupees is Rs. 15,64,71,750 (Fifteen Crore Sixty four Lakh Seventy One Thousand Seven Hundred and Fifty Indian Rupees), based on a conversion rate of RM1 to INR 23.18.
According to the company, the transaction does not constitute a related party transaction as defined by the Companies Act, 2013.
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