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Frugl Group Limited ( (AU:IFG) ) has provided an update.
InFocus Group Holdings’ Thai subsidiary Prodigy9 has received an initial THB 2.45 million payment under a contract to support a major Thai Government social security infrastructure modernisation project led by IT services provider IRCP. The six-month engagement, worth THB 8.16 million in total, sees Prodigy9 supplying engineers, managers and technical oversight on a time-and-materials basis to help move Thailand’s social security system from a mainframe to a web application.
Management says the first payment validates the capabilities built in its Thai operations and strengthens Prodigy9’s reputation in the region. Early discussions with IRCP about substantially expanding Prodigy9’s scope on the project could increase headcount deployed and associated revenue, potentially deepening InFocus’s role in the regional government technology modernisation market.
The most recent analyst rating on (AU:IFG) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Frugl Group Limited stock, see the AU:IFG Stock Forecast page.
More about Frugl Group Limited
InFocus Group Holdings Limited is an ASX-listed data intelligence and software solutions company with expertise in data analytics, software and platform development. Through business units including InFocus Analytics, the Frugl Grocery app, Onify and Prodigy9, as well as its digital ventures and gaming technology arms, it serves enterprise clients across data, cybersecurity, AI, machine learning and team augmentation services.
Average Trading Volume: 1,117,014
Technical Sentiment Signal: Sell
Current Market Cap: A$5.86M
For a thorough assessment of IFG stock, go to TipRanks’ Stock Analysis page.