| Type | Announcement |
| Subject | OTHERS |
| Description |
LETTER OF AWARD |
|
The Board of Directors (“the Board”) of KKB Engineering Berhad (“KKB”) is pleased to announce that KKB has received two (2) Letter of Award from Jabatan Bekalan Air Luar Bandar Sarawak (“JBALB”) for the:- A) Design, Construction, Completion, Testing and Commissioning of Proposed Package SR1 (Southern Region) for Sarawak Water Supply Grid Programme – Stressed Areas (“Contract Package SR1”) AND |
|
B) Letter of Award for The Proposed Water Supply from Kota Samarahan to Sebuyau, Samarahan Division, Sarawak - Construction and Completion of MSCL Pipeline and All Associated Works, Sarawak for Sarawak Water Supply Grid Programme – Stressed Areas (“Contract Package 1C”).
The total combined contract sum for the abovementioned contracts is worth approximately RM110.8 million (Ringgit Malaysia One Hundred Ten Million Eight Hundred Thousand Only).
DURATION OF CONTRACT
The contract period for Contract Package SR1 is Twenty-One (21) Months commencing from March 2019 and scheduled to complete by December 2020
AND
For Contract Package 1C is Twelve (12) Months commencing from March 2019 and scheduled to complete by March 2020.
FINANCIAL EFFECTS
The contracts will have no effect on the Share Capital of the Company and is expected to contribute positively towards the earnings and net assets of the Company and Group for the duration of the contracts.
RISK FACTORS
Risk factors affecting the contracts include execution risks such as availability of skilled manpower and materials, changes in pricing, weather conditions and/or political, economic and regulatory conditions.
DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTEREST
None of the Directors and/or major shareholders and/or person connected with them has any interest, direct or indirect in the abovementioned contracts.
DIRECTORS’ STATEMENT
The Board is of the opinion that the abovementioned contracts is in the best interest of KKB and its Group.
This announcement is dated 28 February 2019.
| Company Name | KKB ENGINEERING BERHAD |
| Stock Name | KKB |
| Date Announced | 28 Feb 2019 |
| Category | General Announcement for PLC |
| Reference Number | GA1-28022019-00026 |
