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Salcon Berhad ("Salcon" or "the Company") is pleased to announce that Salcon Engineering Berhad ("SEB") - Fallah Technology Sdn Bhd JV has received a letter of award dated 13 August 2008 from Air Kelantan Sdn Bhd to conduct studies and implement non-revenue water programme for the whole State of Kelantan ("Project").
The contract value for the Project is RM129.88 million, and the contract period is 3 years from the date of site possession.
SEB is a wholly-owned subsidiary of the Company, and is the leading partner for the Project with 60% interest.
The Project will not have any significant effect on the earnings or net assets of Salcon Group for the financial year ending 31 December 2008.
Salcon do not foresee any exceptional risk other than operational risk associated with the Project.
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 14 August 2008. |
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