Announcements

Date : 14 March 2016

OTHERS EXTENSION OF CONCESSION FOR MAINTENANCE OF THE PENINSULAR FEDERAL ROAD

PROTASCO BERHAD

Type Announcement
Subject OTHERS
Description
EXTENSION OF CONCESSION FOR MAINTENANCE OF THE PENINSULAR FEDERAL ROAD

Protasco Berhad (" Protasco") is pleased to announce that its subsidiary, Roadcare (M) Sdn Bhd ("Roadcare") has today received a letter from the Government of Malaysia ("The Government") for the extension of concession for maintenance of the Peninsular Federal Road ("Concession").

The Government had agreed to extend the Concession for a further period of 10 years comprising:

  •  an interim period of 2 years from 17 February 2016 till 16 February 2018 ("interim period") based on the same terms and conditions of the existing Concession; and
  •  8 years concession from the expiry of the interim period, from 17 February 2018 till 16 February 2026 based on Performance Based Contract ("PBC") model.

The concession is expected to contribute positively towards the Group’s results for the financial year ending 31 December 2016.






Announcement Info

Company Name PROTASCO BERHAD
Stock Name PRTASCO
Date Announced 14 Mar 2016
Category General Announcement for PLC
Reference Number GA1-14032016-00014



Back