OTHERS

Reference Number  :GA1-15082016-00068

OTHERS WZ SATU BERHAD (“WZ SATU” or “the Company”) – Letter of Award from Q Bena – Prisma Simfoni JV for the privatisation of Lebuhraya Persisiran Pantai Barat (Taiping – Banting) – the Construction and Completion of Part of Civil Works for Section 10, (Section 10 – Changkat Cermin to Beruas Interchange) – Part 10B

Company Name Stock Name Date Announced
WZ SATU BERHAD WZSATU 19 AUG 2016
WZ SATU BERHAD

 

 

 

 

 

 

Type Announcement
Subject OTHERS
Description
WZ SATU BERHAD ("WZ SATU" or "the Company") - Letter of Award from Q Bena - Prisma Simfoni JV for the privatisation of Lebuhraya Persisiran Pantai Barat (Taiping - Banting) - the Construction and Completion of Part of Civil Works for Section 10, (Section 10 - Changkat Cermin to Beruas Interchange) - Part 10B

The Board of Directors of WZ SATU wishes to announce that its wholly-owned subsidiary, WZS KenKeong Sdn. Bhd., had on 19 August 2016 accepted a letter of award from Q Bena – Prisma Simfoni JV (“Award“) for privatisation of Lebuhraya Pesisiran Pantai Barat (Taiping – Banting) – the Construction and Completion of Part of Civil Works for Section 10, (Section 10 – Changkat Cermin to Beruas Interchange) – Part 10B (“Project“).

The total value of the Project is RM70,775,569.09 (Ringgit Malaysia: Seventy Million Seven Hundred and Seventy Five Thousand Five Hundred and Sixty Nine and Sen Nine) only for a duration of 30 months.

The Project is to construct and complete the new alignment of roadworks for approximately 20km which includes the following works:-

- Earthworks;

- Geotechnical and soil investigation works;

- Bridges and retaining structures works;

- Utilities and services works; and

- Health, safety and environmental protection works.

WZ SATU does not foresee any exceptional risk other than the normal operational risk associated with the Project and will take the necessary steps to mitigate the risks as and when it occurs.

None of the Directors and/or Major Shareholders and/or persons connected to them, has any interest, direct or indirect in the Award of the Project.

The Award is expected to contribute positively to the future earnings and net assets per share of the Group for the financial years ending 31 August 2017 to 31 August 2019.

The Board of Directors of WZ Satu is of the opinion that the Award is in the best interest of the Company.

This announcement is dated 19 August 2016.