Provenco wins $17m contract in Malaysia

Provenco Group said today it had signed a $17 million, three-year contract with Malaysia's largest oil company to supply outdoor payment systems at petrol stations.

Provenco has already installed equipment at 600 stations over the last three years in Malaysia to Petronas Dagangan Berhad.

Chief executive David Ritchie said the contract would return consistent revenue to Provenco, with maintenance revenues in addition.

"This is consistent with Provenco's global growth strategy of developing partnerships with customers in the true sense -- where Provenco will supply, maintain and upgrade customers' technology where required."

In April, Provenco announced a move into India, by supplying forecourt technology to Mumbai-based refining and distribution company Bharat Petroleum Corporation (BPCL), and more recently announced the move into Europe by supplying Shell stations in Belgium.

Provenco shares last traded at 82c and have ranged between 73c and $1.01 in the past year.

- NZPA