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Salcon Berhad ("Salcon" or "the Company") is pleased to announce that Salcon Engineering Berhad, a wholly-owned subsidiary of the Company, has on 17 May 2010 accepted the letter of acceptance dated 14 May 2010 from Pengurusan Aset Air Berhad for Alternative Water Supply to KLIA - Design and Build Water Treatment Plant and Associated Works at Sungai Labu, Selangor (“Works”).
The contract sum for the Works is RM84.21 million.
The Works will be completed in two (2) stages as follows:-
(a) Stage 1 of the Works to be completed in 12 months from the date of site possession of 1 June 2010; and
(b) Stage 2 of the Works to be completed in 18 months from the date of site possession.
The Works is expected to contribute positively to the earnings or net assets of Salcon Group for the financial years ending 31 December 2010 and 31 December 2011.
Salcon do not foresee any exceptional risk other than operational risk associated with the Works.
None of the directors and/or major shareholders of the Company, or persons connected with them have any interest, direct or indirect, in the Works.
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