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Salcon Berhad ("Salcon" or "the Company") is pleased to announce that Envitech Sdn Bhd ("Envitech") has today accepted the letter of acceptance dated 10 November 2009 from Vintage Heights Sdn Bhd ("VHSB") for the Design, Construction and Completion of the Proposed Remedial Works for Vacuum Sewerage System at Pantai Sepang Putra, Mukim Sepang, Daerah Sepang, Selangor Darul Ehsan ("Project").
The contract sum for the Project is RM35.79 million.
The Project will be completed in two (2) stages as follows:-
(a) Stage 1 works to be completed in 39 weeks from the date of site possession of 17 November 2009; and
(b) Stage 2 works to be completed in 78 weeks from the date of notification by the project director appointed by VHSB.
Envitech is a 60% subsidiary of Salcon Engineering Berhad, which is a wholly-owned subsidiary of the Company.
The Project is expected to contribute positively to the earnings or net assets of Salcon Group for the financial years ending 31 December 2009, 31 December 2010 and 31 December 2011.
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. |
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