The Board of Directors (“Board’) of KKB Engineering Berhad (“KKB”) wishes to announce that KKB has on 2 December 2013 accepted the Price Agreement for the Fabrication and Reconditioning of LPG Cylinders from Petronas Dagangan Berhad. (Tender No: PDB/LPG/37/2013/0815).

The contract with KKB is for a period of one (1) year effective December 2013 until December 2014 and includes an option to extend for another one (1) year period. 

The estimated value for the abovementioned supply and delivery period is worth approximately RM15,900,000.00 (Ringgit Malaysia: Fifteen Million Nine Hundred Thousand Only).

To the best of our knowledge, none of the Directors or major shareholders or person connected with them have any interest, direct or indirect in the above Letter of Award. The Board, having duly considered all aspects of the above contract, is of the opinion that the above contract is in the best interest of KKB and its group of companies.

The above contract is expected to contribute positively to the earnings and net assets of KKB Group for the financial year ending 31 December 2014.

This announcement is dated 2 December 2013.