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 of RGW and MESH Wi-Fi Routers.
2. The Contract value
The minimum contract value of the Project is RM4,056,800.00 (Ringgit Malaysia: Four Million Fifty Six Thousand and Eight Hundred), and the maximum contract value is RM114,841,892.00 (Ringgit Malaysia: One Hundred Fourteen Million Eight Hundred Forty One Thousand Eight Hundred and Ninety Two) inclusive of SST, subject to Purchase Orders to be issued by Customer to the Company based on its business requirements.
3. Duration of the Contract
The Contract duration is from 30 September 2021 to 29 September 2026. 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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