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| Contract Agreement for the Implementation of Package No. 1 - Design, Building and Commissioning of Intake, Raw Water Pumping Station, Dong Tam Water Treatment Plant and Booster Pumping Station, Phase 1, Capacity 50,000 m3/day |
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Salcon Berhad ("Salcon" or "the Company") is pleased to announce that its wholly-owned subsidiary, Salcon Engineering Berhad has on 10 July 2008, entered into a contract agreement with Dong Tam Water B.O.O. Corporation, Vietnam for the implementation of a project known as Package No. 1 - Design, Building and Commissioning of Intake, Raw Water Pumping Station, Dong Tam Water Treatment Plant and Booster Pumping Station, Phase 1, Capacity 50,000 m3/day ("Project") in Vietnam.
The contract value of the Project is approximately RM64.86 million, which is divided into USD5.51 million (approximately RM17.88 million) and VND239.1 billion (approximately RM46.98 million), and the contract period is 21 months.
The Project will not have a significant effect on the earnings or net assets of Salcon Group for the financial year ending 31 December 2008, and the share capital of the Company.
The risk factors for the Project include but not limited to those associated with changes in economic, political and regulatory conditions in Vietnam such as changes to government policies and administration, taxes and exchange control regulations.
None of the Directors and/or major shareholders of the Company, or persons connected with them have any interest, direct or indirect in the Project.
This announcement is dated 11 July 2008 |
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