General Announcement – PROJECT FOR UPGRADE OF DIGITAL HCM PLATFORM AT BURSA MALAYSIA (PROJECT)
MICROLINK SOLUTIONS BERHAD
|Type||Reply to Query|
|Reply to Bursa Malaysia’s Query Letter – Reference ID||IQL-07042020-00001|
|Subject||PROJECT FOR UPGRADE OF DIGITAL HCM PLATFORM AT BURSA MALAYSIA (PROJECT)|
|Description||MICROLINK SOLUTIONS BERHAD
REPLY TO QUERY TO THE PRESS RELEASE – MICROLINK COMPANY WINS PROJECT FOR UPGRADE OF DIGITAL HCM PLATFORM AT BURSA MALAYSIA
|Query Letter Contents||We refer to your Company’s announcement dated 3 April 2020, in respect of the aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following additional information for public release:-
The date on which the Letter Of Intent was received.
Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.
Cc : Market Surveillance Dept., Securities Commission (via fax)
Reference is made to the query from Bursa Malaysia Securities Berhad dated 7 April 2020 in respect of the Company’s earlier announcement dated 3 April 2020 in relation to the press release – Microlink company wins project for upgrade of digital HCM platform at Bursa Malaysia (“Press Release”).
The Board of Directors (“the Board”) of Microlink Solutions Berhad (“MSB” or “the Company”) wishes to announce the following additional information relating to the Press Release :-
1. Formis Computer Services Sdn Bhd, a wholly-owned subsidiary of CSA Servis (M) Sdn Bhd, which in turn is a wholly-owned subsidiary of the Company, had on 2 April 2020 received a Letter of Intent from Bursa Malaysia Berhad for a project to migrate and upgrade its existing MiHCM Digital HCM system to the latest version for a the total contract sum of RM2,464,749.50 only over five years (“Project”).
2. The Project is expected to contribute positively to the revenue, earnings per share and net assets per share of MSB Group and is not expected to have a material effect on the gearing of MSB Group for the financial year ending 31 March 2021. It will have no effect on the issued share capital and substantial shareholders’ shareholdings of the Company.
3. None of the Directors and/or major shareholders of the Company and/or persons connected with the Directors and/or major shareholders have any interest, direct or indirect in the Project.
4. The Company does not foresee any exceptional risk other than operational risk associated with the Project during the Project period which are similar to the operational risks that MSB is already accustomed to. Hence the Board believes that the experience and expertise of its management team will enable the Group to mitigate these risks effectively.
5. As at the date of announcement on 3 April 2020, the Project is scheduled to run from May 2020 for seven months.
This announcement is dated 7 April 2020.