SASBADI

0.150

(%)

OTHERS SASBADI HOLDINGS BERHAD ("SASBADI HOLDINGS" OR "COMPANY") LETTERS OF ACCEPTANCE FROM THE MINISTRY OF EDUCATION MALAYSIA ("MoE")

SASBADI HOLDINGS BERHAD

Type Announcement
Subject OTHERS
Description
SASBADI HOLDINGS BERHAD ("SASBADI HOLDINGS" OR "COMPANY")
LETTERS OF ACCEPTANCE FROM THE MINISTRY OF EDUCATION MALAYSIA ("MoE")

1.            Introduction

 

The Board of Directors of Sasbadi Holdings is pleased to announce that, the Company’s wholly-owned subsidiary, Sasbadi Sdn Bhd (“SSB”), has today signed and accepted four (4) Letters of Acceptance from the MoE for the following:

 

i) the service of supplying and delivering market-ready digital solutions in line with the Common European Framework of Reference for Languages (CEFR) Year 1 for the school session usage from 2023 at an estimated contract value of RM1,118,880.00;

ii) the service of supplying and delivering market-ready digital solutions in line with the Common European Framework of Reference for Languages (CEFR) Year 3 for the school session usage from 2023 at an estimated contract value of RM1,118,880.00;

iii) supplying reprinted textbooks (BCS) to schools under the MoE for the period from 2022 to 2024 (Package 3 - Peninsula Malaysia) at an estimated contract value of RM7,049,378.80; and

iv) supplying reprinted textbooks (BCS) to schools under the MoE for the period from 2022 to 2024 (Package 5 - Peninsula Malaysia) at an estimated contract value of RM7,313,757.80.

 

Items (i) to (iv) above are collectively referred as “Contracts”.

 

The Contracts are for the period from 6 October 2022 to 5 October 2024.

 

 

2.            Financial Effects

 

SSB is expected to deliver these Contracts from the first quarter of the financial year ending 31 August 2023. In this regard, these Contracts are expected to contribute positively to the earnings and net assets of the Sasbadi Holdings Group for the financial year ending 31 August 2023 and onwards, during the duration of these Contracts.

 

 

3.            Risk Factors

 

The Company does not foresee any exceptional risk other than the normal operational risks associated with these Contracts. 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 Sasbadi Holdings or persons connected with them has any interest, whether direct or indirect, in these Contracts.

 

 

5.            Directors’ Statement

 

The Board of Directors of Sasbadi Holdings is of the opinion that these Contracts are in the ordinary course of business and in the best interest of the Company.

 

 

This announcement is dated 11 October 2022.






Announcement Info

Company Name SASBADI HOLDINGS BERHAD
Stock Name SASBADI
Date Announced 11 Oct 2022
Category General Announcement for PLC
Reference Number GA1-11102022-00012