OTHERS VIVOCOM INTL HOLDINGS BERHAD (formerly known as INSTACOM GROUP BERHAD) ("VIVOCOM" OR THE "COMPANY") ADDITIONAL INFORMATION
|VIVOCOM INTL HOLDINGS BERHAD|
VIVOCOM INTL HOLDINGS BERHAD (formerly known as INSTACOM GROUP BERHAD) ("VIVOCOM" OR THE "COMPANY") ADDITIONAL INFORMATION
We refer to the article appearing in FocusM on Friday, 5 February 2016, in particular to the sentence reproduced below :-
“….Vivocom is targeting to deliver some RM700 mil in revenue this year.”
In relation thereto, we wish to clarify that the statement above was in actuality meant to outline the Company’s management’s financial target or goal set to be attained for current financial year ending 31 December 2016 (“FYE 2016”).
As disclosed in our circular to the shareholders dated 28 September 2015, Vivocom had an order book of RM247.35 million. Subsequently to that, Vivocom had vide several announcements, announced that it had won numerous contracts with the aggregated value of RM616.12 million. In addition, Vivocom had also entered into two (2) separate Heads of Agreement (“HoA”) with Coneff Corporation Sdn Bhd on 26 January 2016 and PT Kharisma Kemingking on 15 January 2016. The potential value of work order to arise from the HoA with Coneff Corporation Sdn Bhd is expected to be not less than RM230.00 million whilst the potential value of work order to arise from the HoA with PT Kharisma Kemingking have not been fixed and shall be determined once the feasibility and due diligence study is completed and the defnitive agreements are signed. Vivocom expect the definitive agreements for both HoAs to be signed and work to commence within the FYE 2016.
Based on the developments above, the management has envisioned and set an internal target to undertake work of up to RM700.00 million for the FYE 2016
This announcement is dated 5 February 2016.
|Company Name||VIVOCOM INTL HOLDINGS BERHAD|
|Date Announced||05 Feb 2016|
|Category||General Announcement for PLC|