Taliworks Corporation Berhad

TALIWORKS CORPORATION BERHAD

Type	Announcement
Subject	OTHERS
Description	TALIWORKS CORPORATION BERHAD ("TALIWORKS" OR "THE COMPANY") - EXECUTION OF AGREEMENTS BY THE COMPANY'S WHOLLY-OWNED SUBSIDIARY, SUNGAI HARMONI SDN BHD ("SUNGAI HARMONI") IN RESPECT OF THE OFFER FROM PENGURUSAN AIR SELANGOR SDN BHD IN RELATION TO THE OPERATION AND MAINTENANCE OF THE SUNGAI SELANGOR WATER TREATMENT WORKS PHASE 1
Reference is made to the announcements made by Taliworks on 21 August 2018, 27 August 2018, 24 May 2019 and 28 May 2019 (“Announcements”). Unless otherwise defined, the terms used herein shall have the same meaning as those defined in the Announcements. The Board of Directors of Taliworks wishes to announce that the Agreements have become unconditional and been completed on 12 September 2019. As part of the completion, Sungai Harmoni has also received the Individual Licence pursuant to Section 9 of the Water Services Industry Act 2006 from the Minister of Water, Land and Natural Resources on 12 September 2019. Following the above, Sungai Harmoni will commence operating and maintaining the SSP1 under the Bulk Water Supply Agreement from 13 September 2019 onwards. Further, pursuant to the Termination and Settlement Agreement, Sungai Harmoni will receive an upfront sum equal to 10% of the Settlement Sum no later than 14 days from 12 September 2019. The balance Settlement Sum with interest of 5.25% per annum, will be payable in 9 annual instalments. This announcement is dated 13 September 2019.

Company Name	TALIWORKS CORPORATION BERHAD
Stock Name	TALIWRK
Date Announced	13 Sep 2019
Category	General Announcement for PLC
Reference Number	GA1-11092019-00048

BURSA ANNOUNCEMENTS