Sub-Contract Articles of Agreement with Gamuda M&E Sdn Bhd

BackMay 06, 2019
Type Announcement
Subject OTHERS
Description

Salcon Berhad ('Salcon' or 'the Company')

- Sub-Contract Articles of Agreement with Gamuda M&E Sdn Bhd

Salcon is pleased to announce that Envitech Sdn Bhd, a 60% owned subsidiary of Salcon Engineering Berhad, which in turn is a wholly-owned subsidiary of the Company had on 6 May 2019 accepted the Sub-Contract Articles of Agreement from Gamuda M&E Sdn Bhd for the following project:

Project

Date of Commencement

Date of Completion

Contract Sum

Construction and completion of mechanical & electrical works, relocation of existing utilities and trunk sewer diversion ('Sub-Contract Work') at ''PMV.Infra.05 Construction of Jalan Belfield Tunnel, Flyover, Flare Wall, Relocation of Existing Utilities, PMU Roadway, Upgrading and Improvement of Surface Road and Associated Works, Mukim Bandar Kuala Lumpur, Daerah Kuala Lumpur, Wilayah Persekutuan for PNB Merdeka Ventures Sdn Bhd''

 

(hereinafter referred as 'the Project')

The date of Sub-Contract Agreement is made and entered into

31 October 2019

RM18,333,000.00  

The Project is a construction contract 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 year ending 31 December 2019.

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 6 May 2019.

Announcement Info

Company Name SALCON BERHAD
Stock Name SALCON
Date Announced 06 May 2019
Category General Announcement for PLC
Reference Number GA1-06052019-00057