1. Introduction
Mesiniaga Berhad (“Company”) is pleased to announce that on 1 October 2021, it accepted the Contract and signed the Agreement with Measat Broadcast Network Systems Sdn. Bhd. (199201008561 (240064-A)) (“Customer”), for the Supply and Commissioning of Internet Service Provider Core Infrastructure.
2. Contract value
The total value of the Contract is RM49,334,926.52 (Ringgit Malaysia: Forty Nine Million Three Hundred Thirty Four Thousand Nine Hundred Twenty Six and Sen Fifty Two) inclusive of SST.
3. Duration of the Contract
The Contract duration is from 30 September 2021 to 28 February 2027. There is no clause in the Contract on automatic renewal.
4. Risks in relation to the Contract
The risks relate mainly to meeting the terms of the service level commitments and deadlines imposed by the Customer. The Company has taken the necessary steps to mitigate the risks.
5. Directors and substantial shareholders’ interest
None of the directors, substantial shareholders or any person connected to the directors or substantial shareholders of the Company has any interest, either directly or indirectly, in the said Contract.
6. Statement of directors
The board of directors of the Company is of the opinion that the said Contract is in the ordinary course of business and is in the best interest of the Company.
7. Financial effects
The Contract will not affect the share capital and substantial shareholders’ shareholdings of the Company; however, it is expected to contribute positively to the Group’s earnings and net assets for the financial year ending 31 December 2021 onwards until the expiry of the Contract.
This announcement is dated on 4 October 2021.
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