MNC Wireless Bhd is preparing to propose a multiple cost-saving and productivity increasing Information and Communication Technology (ICT) solution of up to RM80 million for Petronas and its affiliates.

MNC is a specialised digital marketing and technology solutions provider.

CEO Christopher Tan Chor How said part of the proceeds of the company's ongoing rights issue will provide the funding needed for the ICT proposal.

"The rest will be used to develop mobile gaming applications, infrastructure development, purchase of advertising display panels and branch expansion," he said in a statement today.

According to a recent market intelligence survey conducted jointly with Petrowangsa, the value of the total ICT projects under MNC's radar is estimated at RM300 million.

"This makes us all very excited. We will reach out to Petronas and pro-actively make our first RM80 million integrated cost-saving proposal, instead of waiting for ICT tenders.

"Our target of RM80 million for the contract is merely a fraction of Petronas' total revenue," Tan said.

On Oct 13, MNC announced its prospectus for a renounceable rights issue of up to 283.42 million new ordinary shares, together with up to 188.95 million free warrants at an issue price of 10 sen per rights share on the basis of three rights shares, with two free warrants for every one existing MNC share.

To recap, on Oct 22, 2015, MNC inked a Memorandum of Understanding with Petrowangsa Sdn Bhd, which currently has 44 approved licences from Petronas.

Riding on the partnership with Petrowangsa, MNC plans to leverage on its ICT solution for various industries and business segments such as logistics, education, live events, transportation, office management and retail. -- Bernama