OTHERS VIVOCOM INTL HOLDINGS BERHAD (formerly known as INSTACOM GROUP BERHAD) ("VIVOCOM" OR THE "COMPANY") - LETTER OF AWARD
|VIVOCOM INTL HOLDINGS BERHAD|
VIVOCOM INTL HOLDINGS BERHAD (formerly known as INSTACOM GROUP BERHAD) ("VIVOCOM" OR THE "COMPANY") - LETTER OF AWARD
The Board of Directors of Vivocom Intl Holdings Berhad (formerly known as Instacom Group Berhad) (“Vivocom” or “the Company”) is pleased to announce that its subsidiary companies,:-
1.) Vivocom Enterprise Sdn Bhd (“VESB”) had on 23 June 2016, received and accepted the Letter of Award (“LOA”) from Kiara 5 Development Sdn Bhd for the appointment as Turnkey Contractor for the construction of 1 block of 19 units low density apartment at Lot 13498, Jalan Jenjarum, PJU 6, Kampung Kayu Ara, Mukim Sungai Buloh, Daerah Petaling, Selangor Darul Ehsan The provisional contract amount is RM25,000,000 (Ringgit Malaysia Twenty Five Million). This project shall commence upon site possession and shall be completed within eighteen (18) months.
2.) Neata Aluminium (Malaysia) Sdn Bhd (“Neata”), had on 23 June 2016, received and accepted the Letter of Award (“LOA”) from Lim Hoo Seng Construction Sdn Bhd for the design, fabrication, supply, delivery and installation of aluminium and glazing works for a 41 storey of service apartment on Lot 256, Seksyen 63, Lorong Stonor, Kuala Lumpur. The contract amount is RM12,800,000 (Ringgit Malaysia Twelve Million and Eight Hundred Thousand Only). This project shall be completed within thirty-five (35) months from the date of commencement of the main contract works on 28 March 2016.
(Collectively known as the "Projects”)
The Projects are expected to contribute positively to the earnings and net assets of Vivocom for the duration of the Projects.
The risks associated with the Projects are mainly operational risks and risk of delay in completion of the Projects. Notwithstanding this, the management of Vivocom will strive to ensure full compliance to the operational procedures in the execution of the requirements of the Projects.
The Projects are in the ordinary course of business and are not subject to the approval of the shareholders of the Company or any other relevant government authorities in Malaysia.
None of the directors and/or major shareholders of Vivocom or persons connected to them have any interest, direct or indirect, in the above Projects.
This announcement is dated 23 June 2016.
Please refer attachment below.
|Company Name||VIVOCOM INTL HOLDINGS BERHAD|
|Date Announced||23 Jun 2016|
|Category||General Announcement for PLC|