Announcements
Announcements
Date: 26 January 2018

OTHERS Cypark Secures New Contract for the Engineering, Procurement, Construction and Commissioning and Operation and Maintenance of Large Scale Solar PV Plant of 30MWa.c at Empangan Kelinchi, Negeri Sembilan


Type Announcement
Subject OTHERS
Description Cypark Secures New Contract for the Engineering, Procurement, Construction and Commissioning and Operation and Maintenance of Large Scale Solar PV Plant of 30MWa.c at Empangan Kelinchi, Negeri Sembilan

The Board of Directors of Cypark Resources Berhad ("the Company" or "CRB") wishes to announce that the Company had on 26 January 2018 accepted the Conditional Letter of Award dated 25 January 2018 from Cove Suria Sdn. Bhd. (Company No. 1261137-M) ("CSSB") in respect of the Engineering, Procurement, Construction and Commissioning ("EPCC") and Operation and Maintenance ("O&M") of Large Scale Solar PV Plant ("LSSPV") of 30MWa.c at Empangan Kelinchi, Negeri Sembilan ("the Works") for a contract sum of RM260,512,000/- (Ringgit Malaysia: Two Hundred and Sixty Million Five Hundred and Twelve Thousand) only ("Contract Sum") and the following respective contract period:- 

 

Contract Contract period
EPCC of LSSPV of 30MWa.c at Empangan Kelinchi, Negeri Sembilan

Twenty-four (24) months from the date of Notice of Commence of EPCC work issued by CSSB

O&M of LSSPV of 30MWa.c at Empangan Kelinchi, Negeri Sembilan

Twenty-one (21) years from the Commercial Operation Date confirmed by Tenaga Nasional Berhad

 

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 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 or major shareholders of CRB and persons connected with them has any interests, direct or indirect, in the Works.

 

This announcement is dated 26 January 2018.





Back