SASBADI

0.155

+0.005 (+3.3%)

OTHERS SASBADI HOLDINGS BERHAD ("SASBADI HOLDINGS" OR "COMPANY") LETTER OF ACCEPTANCE FROM THE COMMUNITY DEVELOPMENT DEPARTMENT, MINISTRY OF RURAL DEVELOPMENT ("KEMAS")

SASBADI HOLDINGS BERHAD

Type Announcement
Subject OTHERS
Description
SASBADI HOLDINGS BERHAD ("SASBADI HOLDINGS" OR "COMPANY")
LETTER OF ACCEPTANCE FROM THE COMMUNITY DEVELOPMENT DEPARTMENT, MINISTRY OF RURAL DEVELOPMENT ("KEMAS")

1.   Introduction

 

The Board of Directors of Sasbadi Holdings is pleased to announce that, the Company’s wholly-owned subsidiary, The Malaya Press Sdn Bhd (“TMP”), has today signed and accepted a Letter of Acceptance from the KEMAS to publish, design, print, bind, supply and deliver the English activity book for the nursery care centre children (6 years old) at an estimated contract value of RM722,400.00 (“Contract”). The period of the Contract is from 1 March 2021 to 28 February 2023.

 

 

2.   Financial Effects

 

TMP is expected to deliver the first tranche of the Contract worth approximately RM357,000.00 in the third quarter of the financial year ending 31 August 2021. In this regard, the Contract is expected to contribute positively to the earnings and net assets of the Sasbadi Holdings Group for the financial year ending 31 August 2021 and 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 when they occur.

 

 

4.   Directors’ and/or Major Shareholders’ Interest

 

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

 

 

5.   Directors’ Statement

 

The Board of Directors of Sasbadi Holdings 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 4 March 2021.






Announcement Info

Company Name SASBADI HOLDINGS BERHAD
Stock Name SASBADI
Date Announced 04 Mar 2021
Category General Announcement for PLC
Reference Number GA1-04032021-00126