The Board of Directors of Pelangi Publishing Group Berhad (“the Company”) is pleased to announce that the Company’s wholly owned subsidiary, Penerbitan Pelangi Sdn. Bhd. has received the Letter of Acceptance dated 22 May 2020 from the MoE on 1 June 2020 as it has been awarded for the following tenders at a total contract value approximately RM5,449,470.00:

"TENDER BAGI MENERBIT, MENCETAK DAN MEMBEKAL PAKEJ BUKU TEKS KURIKULUM STANDARD SEKOLAH RENDAH (SEMAKAN 2017) TAHUN 5 PEMBEKALAN MULAI TAHUN 2020 (KEGUNAAN MULAI TAHUN 2021) MATA PELAJARAN MATEMATIK TAHUN 5 SJKC"

"TENDER BAGI MENERBIT, MENTERJEMAH, MENCETAK DAN MEMBEKAL BUKU TEKS KURIKULUM STANDARD SEKOLAH MENENGAH TINGKATAN 5 PEMBEKALAN MULAI TAHUN 2020 (KEGUNAAN MULAI TAHUN 2021) MATA PELAJARAN MATEMATIK TINGKATAN 5 DAN MATHEMATICS FORM 5"

The tender shall remain valid for thirty-six months (36) or such extended period as agreed in writing by the parties.

2.         Financial Effects

The Contract will not have any material effect on the earnings and net assets of the Company for the financial year ending 30 September 2020. The Contract is only expected to contribute positively to the earnings and net assets of the Company for the financial year ending 30 September 2021 onwards, during the duration of the Contract. 

3.         Risk Factors

The Company does not foresee any exceptional risk other than the normal operational risks associated with the Contract.  The Company will take the necessary steps to mitigate the risks as and when they occur.

4.         Directors’ and/or Major Shareholders’ Interest

None of the Directors and/or major shareholders of the Company or persons connected with them has any interest, whether direct or indirect, in the Contract.

5.         Directors’ Statement

The Board of Directors of the Company is of the opinion that the Contract is in the ordinary course of business and in the best interest of the Company.

This announcement is dated 1 June 2020.