Announcements
Announcements
Date: 19 May 2017

OTHERS Cypark Resources Berhad ("the Company" or "CRB") - Cypark Secures Two Contracts for the Development of Large Scale Solar PV Plant ("LSSPV") in Negeri Sembilan


Type Announcement
Subject OTHERS
Description Cypark Resources Berhad ("the Company" or "CRB") - Cypark Secures Two Contracts for the Development of Large Scale Solar PV Plant ("LSSPV") in Negeri Sembilan

The Board of Directors of CRB wishes to announce that the Company had on 19 May 2017 accepted two (2) Letters of Award ("LOA") from Selasih Mentari Sdn. Bhd. (Company No. 963548-X) and Revenue Vantage Sdn. Bhd. (Company No. 978350-D), dated 18 May 2017 and 19 May 2017 respectively, in respect of the following contracts (collectively referred to "the Works") at a total contract sum of RM75,010,000/- (Ringgit Malaysia: Seventy Five Million and Ten Thousand) only ("Total Contract Sum"):-

 

No.

Employer

Date of LOA

Contracts

Contract sum

(RM)

Contract period

1.

Selasih Mentari Sdn. Bhd. (Company No. 963548-X)

18 May 2017

The Development of LSSPV of 10.50MWD.C at Ladang Tanah Merah, Negeri Sembilan

53,380,000/-

17 months and 25 days commencing from 23 May 2017 to 16 November 2018

 

2.

Revenue Vantage Sdn. Bhd. (Company No. 978350-D)

19 May 2017

The Development of LSSPV of 3.95MWD.C at Jelebu, Negeri Sembilan

21,630,000/-

15 months and 15 days commencing from 24 May 2017 to 7 September 2018

 

 

There are no major risks in relation to the Works, save for the normal construction risk of material price and labour cost fluctuations which are already covered by the Total Contract Sum.

 

The Directors of CRB are of the opinion that the Works are in the best interest of CRB. The Works are expected to contribute positively to the earnings of CRB and would not have any effect on the share capital or shareholdings of the substantial shareholders.

 

None of the Directors, major shareholders or persons connected with the Directors and/or major shareholders of CRB has any interest, direct or indirect, in the Works.

 

This announcement is dated 19 May 2017.





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