HUBLINE

0.045

-0.005 (-10%)

OTHERS HUBLINE BERHAD (Hubline or the Company) AWARD OF TENDER CONTRACT FROM SARAWAK STATE DEPARTMENT OF HEALTH (JABATAN KESIHATAN NEGERI SARAWAK)

HUBLINE BERHAD

Type Announcement
Subject OTHERS
Description
HUBLINE BERHAD (Hubline or the Company)
AWARD OF TENDER CONTRACT FROM SARAWAK STATE DEPARTMENT OF HEALTH (JABATAN KESIHATAN NEGERI SARAWAK)

1.

INTRODUCTION

 

 

 

Hubline Berhad (“Hubline” or “the Company”) is pleased to announce that its subsidiary, Layang Layang Aerospace Sdn Bhd (“LLA”) has been awarded a contract to provide aircraft and helicopters for the flying doctor service (“FDS”), medical evacuation service (“medevac”) and other ancillary health services to the Sarawak State Department of Health (Jabatan Kesihatan Negeri Sarawak or JKNS) for a total contract sum of Ringgit Malaysia Sixty Three Million Two Hundred Eighteen Thousand and Four Hundred Only (RM 63,218,400) inclusive of 6% SST.

 

 

2.

DURATION OF THE CONTRACT

 

This JKNS contract is for a duration of 48 months, from 1 January 2021 to 31 December 2024.

 

 

3.

FINANCIAL EFFECTS

 

 

 

The contract announced herein will have no effect on the issued capital of the Company and is expected to contribute positively towards the earnings of Hubline Group for the financial year 30 September 2021 and the financial years thereafter until the expiry of the contact.

 

 

4.

RISK FACTORS

 

 

 

The Company does not foresee any exceptional risk other than operational risk associated with the contract.  Notwithstanding, LLA established a successful track record in undertaking similar contracts and has stringent safety management systems and quality controls. 

 

 

5.

INTEREST OF DIRECTORS, SUBSTANTIAL AND/OR MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED

 

 

 

None of the Directors, substantial and/or major shareholders of Hubline or any persons connected to them have any direct or indirect interest in the contract.

 

 

6.

APPROVAL REQUIRED

 

 

 

The Agreement is not subject to the approvals of shareholders of Hubline or any relevant authorities.

 

 

7.

DIRECTORS STATEMENT

 

 

 

The Board of Directors of the Company is of the opinion that the acceptance of the contract is in the best interest of the Company.

 

 

 

This announcement is dated 11 January 2021.

 

 

 






Announcement Info

Company Name HUBLINE BERHAD
Stock Name HUBLINE
Date Announced 11 Jan 2021
Category General Announcement for PLC
Reference Number GA1-11012021-00106