Announcements


Date: 08 June 2017

OTHERS ASIA BIOENERGY TECHNOLOGIES BERHAD ("ABT" or "the Company") - LETTER OF AWARD ("LOA") BY TENISHA CONSTRUCTION SDN. BHD. TO ASIABIO PETROLEUM SDN. BHD. IN RELATION TO THE CONTRACT FOR THE UTILITIES, INTERCONNECTING OFFICE SITE (UIO) FACILITIES: DESIGN, ERECT, INSPECT, MAINTAIN AND DISMANTLE OF SCAFFOLDING SYSTEMS, PACKAGE 14-SS16C (CONTRACT NO: PC14-C- K-0001- SS16C)


Type Announcement
Subject OTHERS
Description ASIA BIOENERGY TECHNOLOGIES BERHAD ("ABT" or "the Company") - LETTER OF AWARD ("LOA") BY TENISHA CONSTRUCTION SDN. BHD. TO ASIABIO PETROLEUM SDN. BHD. IN RELATION TO THE CONTRACT FOR THE UTILITIES, INTERCONNECTING OFFICE SITE (UIO) FACILITIES: DESIGN, ERECT, INSPECT, MAINTAIN AND DISMANTLE OF SCAFFOLDING SYSTEMS, PACKAGE 14-SS16C (CONTRACT NO: PC14-C- K-0001- SS16C)

The Board of Directors of ABT is pleased to announce that its wholly-owned subsidiary company, Asiabio Petroleum Sdn. Bhd. ("ABP" or "Subcontractor") has on 7 June 2017 received a letter of award ("LOA") from Tenisha Construction Sdn. Bhd. ("Tenisha" or "Site Services Contractor") for the subcontracting work involving the design, erect, inspect, maintain and dismantle of scaffolding systems for the Utilities, Interconnecting, Officesite (UIO) Facilities (CONTRACT NO: PC14-C- K-0001- SS16C).

Tenisha, incorporated on 2 December 2014, is a Petronas-accredited service provider based in Johor that specializes in providing multi-disciplinary engineering and construction services in the oil & gas industry. The company had commenced operations in the oil and gas industry in May 2016 and has since been successful in securing various work orders from PRPC Utilities and Facilities Sdn. Bhd., the owner of the contract in relation to Petroliam Nasional Berhad's (PETRONAS) proposed Refinery and Petrochemical Integrated Development (RAPID) complex in Pengerang, Johor, which is a mega-project within the Pengerang Integrated Petroleum Complex (PIPC).

ABP and Tenisha is expected to execute a Subcontract Agreement within one (1) month from the date of the LOA, upon which an announcement will be made.

The contract value is expected to be on a unit rate basis as set in the LOA for works carrying RM220 million in total estimated value over a thirty months (30) period. Tenisha will be responsible for the payment to ABP for any subscontracting work carried out in accordance to the terms of the Subcontracting Agreement to be signed between the parties.

The LOA will not have any effect on the share capital, earnings and net assets of the Company for financial year ending 31 March 2018, however, it is expected to contribute positively to the future earnings of the ABT Group.

None of the Directors and/or major shareholders of ABT and/or persons connected with them have any interests, direct or indirect, in the LOA.

This announcement is dated 8 June 2017.





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