sought for by teachers and students and is an area we will further develop and incorporate into our future print publications. On the textbook publishing front, the Group managed to secure a new textbook contract from the government during the financial year, which was valued at an estimated total of RM0.725 million as compared to RM2.494 million new contracts in the previous financial year. This was due to smaller order quantities for the new contract won and fewer tenders being offered by the Ministry of Education ("MoE"), attributed to the end of the Kurikulum Standard Sekolah Menengah (“KSSM”) textbook publishing program cycle. As a whole, the revenue contribution from textbook contracts has decreased by RM2.240 million to RM6.839 million from RM9.079 million in the previous financial year. This was due to fewer contracts won as mentioned above and smaller order quantities received for Buku Cetakan Semula ("BCS") during the current financial year. Subsequent to the financial year end, the Group had clinched two (2) Letters of Acceptance (Package 3 – Peninsula Malaysia and Package 5 – Peninsula Malaysia) from the MoE on 11 October 2022 to supply reprinted textbooks (“BCS”) to schools under the MoE for the period from 2022 to 2024 with a total contract value of RM14.363 million. Part of the revenue from these contracts will be reflected in the financial year ending 31 August 2023. Print Publishing Business The Group’s print publishing segment’s revenue increased from RM57.214 million for the preceding financial year to RM63.280 million for the current financial year, representing an increase of RM6.066 million (equivalent to 10.60%). The Group’s academic print publishing segment had performed favourably throughout FYE 31 August 2022. With the improvement of the nation’s COVID-19 situation, easing of movement restrictions, and transition towards the endemic phase, the resumption of economic activities and recovery of consumer sentiment have bolstered well for the demand of our Group’s print publishing products. This was further supported by the full reopening of schools nationwide, spurring the need for printed academic publications for teaching and learning purposes. Furthermore, our Group has managed to gain market share due to market consolidation resulting from the Covid-19 pandemic. Throughout the years, our Group has been successful in assessing the needs of teachers and students and responding to current trends to produce education solutions that are innovative, effective and competitive. In order to meet the 21st century needs of students, teachers, and parents, many of our print publications products are now aided by hybrid elements (combining conventional print media with digital solutions), such as our Modul Aktiviti Integrasi Digital series of workbooks targeting both Primary and Secondary School students, flagship Masterclass series of guidebooks for SPM and MUET, and more. These hybrid elements have been well-received and Review of Operating Segments (continued) MANAGEMENT DISCUSSION AND ANALYSIS 16 SASBADI HOLDINGS BERHAD
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