1.            Introduction

The Board of Directors of Sasbadi Holdings is pleased to announce that, the Company’s indirectly-owned subsidiary, The Malaya Press Sdn Bhd (“TMP”), has today signed and accepted a Letter of Acceptance from the MoE to publish, print and supply the textbook package for the subject Pendidikan Muzik Tahun 6 SJKC at an estimated contract value of RM724,540.00 (“Contract”). The period of Contract is from 8 September 2021 to 7 September 2024.

2.            Financial Effects

TMP is expected to deliver the first tranche of the Contract in the second quarter of the financial year ending 31 August 2022. 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 2022 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 9 September 2021.