General Announcement for PLC

09/04/2018

OTHERS CONTRACTS ENTERED INTO BY PALETTE SYSTEM SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF UCREST BERHAD (FORMERLY KNOWN AS PALETTE MULTIMEDIA BHD) WITH KEY ASIC PTE LTD

UCREST BERHAD

Type Announcement
Subject OTHERS
Description 
CONTRACTS ENTERED INTO BY PALETTE SYSTEM SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF UCREST BERHAD (FORMERLY KNOWN AS PALETTE MULTIMEDIA BHD) WITH KEY ASIC PTE LTD

Pursuant to Rule 9.03 of ACE Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of UCrest Berhad (Formerly known as Palette Multimedia Bhd) (“UCrest” or “the Company”) wishes to inform that Palette System Sdn Bhd (Company No.538216-T), a wholly-owned subsidiary of the Company had on 9 April 2018 entered into contracts with Key Asic Pte Ltd as follows:-

Products Details

Contract Value (USD)

 RM (equivalent)*

Virtual Storage Platform - imedic V4.8 10k user license for 12 months

993,658.80

 3,838,503.94

iMedic software and hardware platform for 15,000 user licenses per year

564,616

 2,181,111.61

*Based on exchange rate of USD1.00:RM3.8630 as at 9 April 2018.

The Contracts are expected to contribute positively to the net assets per share and earnings per share of UCrest and its subsidiaries for the financial year ending 31 May 2018.

UCrest does not foresee any exceptional risks other than execution risks, political risks and country risks associated with the Contracts.

None of the Directors and/or major shareholders of UCrest or persons connected with them have any interests, direct or indirect, in the Contracts.

This announcement is dated 9 April 2018.



Announcement Info

Company Name UCREST BERHAD
Stock Name UCREST
Date Announced 09 Apr 2018
Category General Announcement for PLC
Reference Number GA1-09042018-00079


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