Saturday 20 Apr 2024
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KUALA LUMPUR (Apr 11): Sasbadi Holdings Bhd shares rose 4% this morning after it secured two textbook publishing and printing contracts for Form 3 of the national secondary schools from the Ministry of Education (MoE), for a combined total of RM5.79 million.

At 9.19am, Sasbadi rose 1,5 sen to 39 sen with 621,700 shares done.

Firstly, its directly-owned subsidiary Sasbadi Sdn Bhd (SSB) has accepted a letter of acceptance (LoA) to publish and print a Science textbook for RM4.78 million.

Secondly, its indirectly-owned subsidiary The Malaya Press Sdn Bhd (TMP) has accepted an LoA from MoE to publish and print a Chinese language textbook for RM1.01 million.

The two contracts are for a period of two years, up until Dec 31, 2020, are only expected to contribute positively to the earnings and net assets of the group for the financial year ending Aug 31, 2019 onwards.

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