General Announcement for PLC

21/02/2018

OTHERS CONTRACT 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 
CONTRACT 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 21 February 2018 entered into a contract with Key Asic Pte Ltd for the sale of the iMedic Platform for 40,000 user licences for 1 year and configuration of the Cloud Platform (“Contract”) at a contract value of USD838,993 (equivalent to RM3,267,458.24*).

*Based on exchange rate of USD1.00:RM3.8945 as at 20 February 2018.

The Contract is 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 Contract.

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

This announcement is dated 21 February 2018.



Announcement Info

Company Name UCREST BERHAD
Stock Name UCREST
Date Announced 21 Feb 2018
Category General Announcement for PLC
Reference Number GA1-21022018-00033


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