Sasbadi bags RM6.53m textbook contracts

PETALING JAYA: Sasbadi Holdings Bhd has bagged three Year 3 textbook contracts worth RM6.53 million.
Its directly owned subsidiary Sasbadi Sdn Bhd (SSB) today accepted two jobs from the Ministry of Education (MoE) to publish and print textbook packages for Year 3 of the Chinese national-type primary schools (SJKCs) throughout Malaysia, for the period of March 9, 2018 to Dec 31, 2020, for the subject of Mathematics (RM2.89 million); and Arts Education (RM722,045).

Sasbadi's another indirectly owned subsidiary The Malaya Press Sdn Bhd (TMP) also accepted the job from the MoE to publish and print the textbook package for Year 3 of the SJKCs throughout Malaysia, for the period of March 9, 2018 to Dec 31, 2020, for the subject of Chinese Language.
SSB and TMP are only expected to deliver the first tranche of the contracts worth RM3.94 million in total to the SJKCs throughout Malaysia in the first and second quarters of the financial year ending Aug 31, 2019 (FY19). The contracts are only expected to contribute positively to the earnings and net assets of the Sasbadi Holdings Group for FY19 onwards, during the duration of the contracts.
At market close, Sasbadi's share price fell 2 sen or 4% to 48.5 sen with some 4.59 million shares changing hands.