NeraTel and Panasonic unit wins $20 million contract to revamp bus ticketing depot system

NeraTel shares last changed hands at 8 cents, down 11.11% over the past 12 months

A consortium comprising RFNet Technologies and Nera Telecommunications N01 has won a $20 million contract to revamp Singapore’s bus ticketing depot system.

“The contract is a testament to RFNet’s expertise and competence in wireless technology for the transportation market," says Deric Lee Chyan, CEO of RFNet, a subsidiary of Japan conglomerate Panasonic.

Chong Hoi Ming, CEO of NeraTel, says the contract will help lay the foundation for a public transport system that can meet tomorrow’s demands with ease and efficiency.

According to the two parties, this project will not only ensure that the system remains robust, secure and resilient but also enhance the operational efficiency of the bus depots, directly improving the overall commuter experience.

NeraTel shares last changed hands at 8 cents, down 11.11% over the past 12 months.

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