MIKOH wins first Singapore order
- 04 November, 2011 19:16
Tamper evident technology company MIKOH (ASX:MIK) has cracked into the Singapore market, receiving its first orders from the city state.
The company on Friday announced a deal to supply 1,000 of its RFID car headlamp tags to local RFID system integration company Intensecomp.
The tags, from MIKOH's Smart&Secure Automatic Vehicle Identification (AVI) range, will be used in access control systems for car parks at two condominiums and one industrial park.
Managing director Shawn Chua said while the order is small, it is significant as the company has been trying to break into the Singapore market for some time.
He said that pending confirmation, the deal may be expanded to cover a third condominium access control project.
MIKOH last month announced two other Asian deals to supply RFID tags – one for access control at an industrial park in Thailand and the other for a pilot asset tracking project planned by L'Oreal in India.
The company narrowed its FY11 net loss by 38% to $3.1 million, and reported 151% higher revenue of $3.9 million.
MIK shares stayed flat on Friday at $0.023.