The Board of Directors of Nera Telecommunications Ltd. together with its subsidiaries announce that the Group has secured a contract worth approximately SGD 10 million (the "Contract"). The Group secured the project with a leading service provider based in Southeast Asia to implement infrastructure for the latter's digital economy operations, including setting up facilities in over 30 sites, installing necessary equipment and other peripherals, carrying out network integration works, testing and commissioning, as well as hiring and deploying skilled staff to help uplift rural communities via digital commerce training to accelerate economic growth. The project is expected to commence in January 2024.

The Contract also includes a five-year managed services component, which covers the day-to-day management, operation and maintenance of the aforementioned equipment, 24 x 7 support and network performance monitoring.