OTHERS Receipt of Letter of Award and Supplementary Letter of Award
| FUTUTECH BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | Receipt of Letter of Award and Supplementary Letter of Award |
The Board of Directors of Fututech Berhad ("FTB" or the "Company") is pleased to announce that its wholly owned subsidiary company, Ace Equity Sdn Bhd ("AESB"), has received a Letter of Award (the "LA") and a Supplementary Letter of Award (the "SLA") from Meridian Score Sdn Bhd ("MSSB") on 27th November 2012 respectively for the following: 1. Under the LA, AESB is granted an award for the construction of 73 units of courtyard villas for a property development known as “Karisma Hill” at Seri Kembangan (the “Project”) with a value of approximately RM83 million comprising of main building works. The Project is expected to commence on 5th December 2012 and due to be completed on 4th October 2014; and 2. Under the SLA, AESB is to confirm the purchase of 2 units of courtyard villas of the Project from MSSB for a total consideration of approximately RM5.18 million. The SLA is subject to the acceptance of the LA. The contract will have no effect on the issued and paid-up capital of the Company and is expected to contribute positively to the earnings and net assets per share of FTB Group for the financial years ending 2013 to 2014. The LA and SLA are subject to the acceptance by AESB. None of the directors and/or major shareholders of FTB or persons connected to them have any interest, direct or indirect, in the above contract. | |
Announcement Info
| Company Name | FUTUTECH BERHAD |
| Stock Name | FUTUTEC |
| Date Announced | 27 Nov 2012 |
| Category | General Announcement |
| Reference No | CA-121127-55540 |