G Capital inks supplementary agreement with Mindef

KUALA LUMPUR: Main market-listed G Capital Bhd's (GCap) wholly-owned subsidiary GPB Corporation Sdn Bhd (GCSB) signed a supplementary agreement for school bus transportation services with the Ministry of Defence Malaysia (Mindef).

The supplementary agreement complements the existing contract of GCSB in chartering school buses for the children of the Malaysian armed forces nationwide, including Sabah and Sarawak, from 1 January 2020 to 31 December 2022, for a contract value of RM44.2 million.

A filing with Bursa Malaysia today shows the contract tenure has been extended for another year to the end of 31 December 2023 with an additional contract value awarded of RM8.4 million, making the total contract value to RM52.6 million from 1 January 2020 to 31 December 2023.

GCap executive director Datuk Yap Yee Ping said the supplemental agreement is a testament to the company's quality services and commitment provided to customers.

According to Yap, reopening the economy and resumption of schools nationwide had led to the recovery in demand for the company's charter services.

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