Salcon Berhad (“Salcon” or “the Company”) is pleased to announce that Salcon Engineering Berhad, a wholly-owned subsidiary of the Company, has on 3 October 2011 accepted the Letter of Acceptance of Tender dated 28 September 2011 from Perbadanan Bekalan Air Pulau Pinang Sdn. Bhd. for the works at Muda River Water Scheme Phase 4A : Package 11-25 MGD Process Unit and associated works, Sg. Dua WTP, Seberang Perai Utara (“the Project“).
The contract sum for the Project is RM20,699,988.00 (Ringgit Malaysia : Twenty Million Six Hundred Ninety Nine Thousand Nine Hundred and Eighty Eight only) and the Project is expected to commence from 1 November 2011 until 31 July 2013 for a duration of twenty-one (21) months.
The Project is expected to have positive contributions on the earnings or net assets of Salcon Group for the financial years ending 31 December 2012 and 31 December 2013.
As for the financial year ending 31 December 2011, the Project will have insignificant financial impact to the earnings and net assets of Salcon Group as it involves mainly mobilisation and planning during the period.
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.
