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GRAND-FLO SOLUTION BERHAD (“GRAND-FLO” OR “COMPANY”) CONTRACT SECURED BY SIMAT TECHNOLOGIES PUBLIC COMPANY LIMITED (“SIMAT”), A SUBSIDIARY COMPANY OF GRAND-FLO IN THAILAND

GRAND-FLO SOLUTION BERHAD

Type

Announcement
SubjectGRAND-FLO SOLUTION BERHAD (“GRAND-FLO” OR “COMPANY”)

CONTRACT SECURED BY SIMAT TECHNOLOGIES PUBLIC COMPANY LIMITED (“SIMAT”), A SUBSIDIARY COMPANY OF GRAND-FLO IN THAILAND

Contents :

The Company is pleased to announce that Simat, its subsidiary in Thailand, has secured a contract with a value of approximately USD2.925 million (equivalent to approximately RM10 million, based on the exchange rate of USD1: RM3.45) with C.P. Seven Eleven Public Company Limited (“CP Seven Eleven”), owner of 7-11 outlets in Thailand.


The contract is for the provision of Inventory Management System for the existing 5,000 7-11 outlets in Thailand and new outlets for a period of 10 years commencing from 1 January 2005 till 31 December 2014. Currently, Simat has implemented the system in 700 outlets of the existing 5,000 outlets. The implementation for the remaining 4,300 outlets is expected to be completed within the year 2007.

This contract is expected to contribute positively towards the revenue and earnings of Grand-Flo for the financial year ending 31 December 2007 and the ensuing financial years.

The Board of Directors of Grand-Flo wishes to confirm that none of the Directors, substantial shareholders of Grand-Flo or persons connected with them have any interest, direct or indirect, in the transaction.

This announcement is dated 13 June 2007.



Announcement Info

Company NameGRAND-FLO SOLUTION BERHAD (MESDAQ Market) 
Stock Name GRANFLO    
Date Announced13 Jun 2007  
CategoryGeneral Announcement
Reference NoCM-070613-58077





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