Letter Of Acceptance From Pengurusan Aset Air Berhad To Salcon Engineering Berhad

BackFeb 19, 2025

 

Type Announcement
Subject OTHERS
Description SALCON BERHAD ("SALCON" OR "THE COMPANY")
- LETTER OF ACCEPTANCE FROM PENGURUSAN ASET AIR BERHAD TO SALCON ENGINEERING BERHAD

Salcon is pleased to announce that Salcon Engineering Berhad, a wholly-owned subsidiary of the Company, had on 19 February 2025 accepted the Letter of Acceptance dated 14 February 2025 issued by Pengurusan Aset Air Berhad for the following project (“Letter of Acceptance”):

 

Project

Date of Site Possession

Date of Commencement

Duration

Date of Completion

Contract Sum

Cadangan Program Penggantian Paip Lama/Uzur Di Kota Bharu, Kelantan (KBU 06, KBU 11, KBT 21, KBS OUTZONE)

 

(hereinafter referred as “the Project”)

17 March 2025

 

 

Upon the fulfilment of the conditions precedent to the commencement of the Project as stipulated in the Letter of Acceptance.

24 months

16 March 2027

RM70,519,000.00  

 

The Project is a construction contract and has no option for renewal.

 

EFFECTS ON FINANCIAL, ISSUED SHARE CAPITAL AND SUBSTANTIAL SHAREHOLDERS’ SHAREHOLDING

 

The Project is expected to contribute positively towards the earnings and net assets of Salcon Group for the financial years ending 31 December 2025 and onwards.

 

The Project will not have any effect on the share capital and substantial shareholders’ shareholding of the Company.

 

RISK FACTORS

 

Salcon does not foresee any exceptional risks other than execution risks associated with the Project.

 

INTERESTS OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED TO THEM

 

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 19 February 2025.

 

Announcement Info

Company Name SALCON BERHAD
Stock Name SALCON
Date Announced 19 Feb 2025
Category General Announcement for PLC
Reference Number GA1-19022025-00026