Azeus Systems Holdings Ltd said on Nov, 5 2025 that the expected total value of its Central Electronic Recordkeeping System (CERKS) contract for the Hong Kong SAR Government may fall by about 8.9% to 11.4% after the customer provided lower-than-projected user numbers.

The revised estimate trims the contract by roughly 15.5 million to 19.8 million Singapore dollars, covering both a one-off licence fee to be booked in the financial year ending Mar, 31 2027 and ten years of maintenance revenue scheduled from Sep, 2026 through 2037. Azeus said it sees no significant impact on its results for FY2026.

The company originally secured the CERKS deal on May, 9 2022 with an estimated value of about 173.4 million Singapore dollars, comprising 107.8 million for system design and development and 64.8 million for ten years of maintenance and support. Around 130.0 million of the original figure was tied to software licence and maintenance fees based on user numbers across Hong Kong government bureaux and departments.

Final user numbers will be fixed near project completion, expected before Sep, 2026, and could still move higher or lower, Azeus noted.

Separately, the company is in talks with the customer over how to calculate server licence fees. Until that issue is resolved, Azeus said it cannot determine the potential impact on FY2027 and later earnings.