KUALA LUMPUR (Oct 12): BHS Industries has secured a five-year exclusive contract from the Malaysian government to publish, print and sell past year question papers for UPSR, PT3 and SPM for five years.
BHS Industries said the agreement was effective Oct 1 this year and is valid until Sept 30, 2022. The contract also includes the exclusive rights to publish past exam papers of SPMU (SPM Ulangan) and STAM (Sijil Tinggi Agama Malaysia).
In a Bursa Malaysia filing, BHS Industries said the Education Ministry's examination board awarded the service contract to its book publisher Pustaka Yakin Pelajar Sdn Bhd, which grants exclusive or absolute rights to those past year exam papers.
Pustaka Yakin is 50%-owned by BHS Industries' wholly-owned unit Pustaka Sistem Pelajaran Sdn Bhd (PSP). PSP, which used to wholly own Pustaka Yakin, has just sold 50% in the book publisher to Nikko Ventures Sdn Bhd.
The stake was sold on Oct 11 for RM146,717, after Nikko Ventures secured the service contract from the ministry, BH Industries said in a separate filing.
The directors of Nikko are Datuk Mohd Fauzi Aziz, Mohammad Nadzim Nasir and Hu Shing Can. The company is engaged in the business of marketing and promoting textbooks and educational books and other relevant teaching materials to private sectors and government agencies.
BHS said the five-year contract is expected to contribute positively to its earnings, as well as enhance its net assets per share for the financial year ending June 20, 2018, and throughout the tenure of the contract.
BHS shares closed up half sen or 1.24% at 41 sen today, for a market capitalisation of RM176.88 million.