OTHERS

Reference No : CS-141201-36790

OTHERS WZ SATU BERHAD (“WZ SATU” OR “THE GROUP”) – Letter of Award from Laksana Amanbina Sdn. Bhd. for the Construction and Completion of Earthworks and Infrastructure Works Connect to Existing Package 1, Kuantan, Pahang Darul Makmur

Company Name Stock Name Date Announced
WZ SATU BERHAD WZSATU 16 Dec 2014 

 

WZ SATU BERHAD

 

Type Announcement
Subject OTHERS
Description WZ SATU BERHAD (“WZ SATU” OR “THE GROUP”) – Letter of Award from Laksana Amanbina Sdn. Bhd. for the Construction and Completion of Earthworks and Infrastructure Works Connect to Existing Package 1, Kuantan, Pahang Darul Makmur

The Board of Directors of WZ SATU wishes to announce that its wholly-owned subsidiary, WZS KenKeong Sdn. Bhd. (formerly known as KenKeong Sdn. Bhd.), has on 16 December 2014 received a letter of award from Laksana Amanbina Sdn. Bhd. for a total value of RM33,703,034.70 (“Award“) in relation to the construction and completion of earthworks and infrastructure works connect to existing Package 1, Kuantan, Pahang Darul Makmur (“the Project“). The Project includes earthworks, infrastructure works and street lighting services.

The Project is expected to be completed within fifty-eight (58) weeks.

WZ Satu does not foresee any exceptional risk other than the normal operational risk associated with the Award 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.

The Award is expected to contribute positively to the future earnings and net assets per share of the Group for the financial year ending 31 August 2015.

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 16 December 2014.