Others

BackAug 22, 2016

 

Type Announcement
Subject OTHERS
Description

Salcon Berhad ("Salcon" or "the Company")
- Letter of Acceptance dated 18 August 2016 from MMC Engineering Services Sdn. Bhd.

Salcon is pleased to announce that Salcon Engineering Berhad (“SEB”), a wholly-owned subsidiary of the Company, had on 22 August 2016 accepted the Letter of Acceptance dated 18 August 2016 issued by MMC Engineering Services Sdn. Bhd. (“MMCES”) for the following project:-

Project

Duration

Date of Site Possession

Date of Completion

Contract Sum 

“Cadangan Pembinaan Langat Centralised Sewage Treatment Plant Dan Penyambungan Rangkaian Paip Pembetungan Di Kawasan Tadahan Lembangan Sungai Langat Secara Reka Dan Bina”

- Packages 1 and 2 : Network Pumping Stations

(hereinafter referred as "the Project")

From 18 August 2016 until the satisfactory completion of SEB’s obligation under the sub-contract

Shall be notified by MMCES

24 months from the date of site possession

RM66,780,000.00 (inclusive of 6% Goods and Services Tax)

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

The Project is expected to contribute positively towards the earnings and net assets of Salcon Group for the financial years ending 31 December 2016, 31 December 2017 and 31 December 2018.

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

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

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 22 August 2016.

 

Announcement Info

Company Name SALCON BERHAD
Stock Name SALCON
Date Announced 22 Aug 2016
Category General Announcement for PLC
Reference Number GA1-18082016-00029