OTHERS

Reference Number  :  GA1-13042018-00074 

OTHERS WZ Satu Berhad (the Company or WZ Satu) – Letter of Award from Mujur Minat Sdn. Bhd. in relation to the subcontract works for construction and completion of two carriageway bridge structure works for Section 1 and Section 2 at Lot 68054 (PT8959), Mukim Tanjung 12, Kuala Langat District

Company Name Stock Name Date Announced
WZ SATU BERHAD WZSATU 13 APR 2018
WZ SATU BERHAD

 

 

 

 

Type Announcement
Subject OTHERS
Description
WZ Satu Berhad (the Company or WZ Satu) - Letter of Award from Mujur Minat Sdn. Bhd. in relation to the subcontract works for construction and completion of two carriageway bridge structure works for Section 1 and Section 2 at Lot 68054 (PT8959), Mukim Tanjung 12, Kuala Langat District

The Board of Directors of the Company wishes to announce that WZS BinaRaya Sdn. Bhd. (formerly known as WZS KenKeong Sdn. Bhd.), a wholly-owned subsidiary of the Company had on 13 April 2018 accepted the Letter of Award from Mujur Minat Sdn. Bhd. of 39A, Jalan SS22/23, Damansara Jaya, 47400 Petaling Jaya, Selangor Darul Ehsan (“Award”) in relation to the subcontract works for construction and completion of two carriageway bridge structure works for Section 1 and Section 2 at Lot 68054 (PT8959), Mukim Tanjung 12, Kuala Langat District (“Project“).

 

The total contract value of the Project is RM68,000,000.00 (Ringgit Malaysia: Sixty-Eight Million) only. The commencement and completion dates of the Project are as follows:-

 

Project Commencement date Completion date
Section 1 – Interchange Ramp 1 and Ramp 2 16 April 2018 31 March 2019
Section 2 – Bridge 1/2 January – February 2020 (tentatively) January – February 2021 (tentatively)

 

The risk factors affecting the Project including execution risks such as availability of skilled manpower and materials, normal operational risk associated with the Project, weather conditions, economic and regulatory conditions. Notwithstanding the above, the Company will take 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 years ending 31 August 2018 to 31 August 2021.

 

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 13 April 2018.