OTHERS VIVOCOM INTL HOLDINGS BERHAD ("VIVOCOM" OR THE "COMPANY") (Formerly known as Instacom Group Berhad) - LETTER OF AWARD
|VIVOCOM INTL HOLDINGS BERHAD|
VIVOCOM INTL HOLDINGS BERHAD ("VIVOCOM" OR THE "COMPANY") (Formerly known as Instacom Group Berhad) - 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 company, Vivocom Enterprise Sdn Bhd (“VESB”), had on 19 Aug 2016, received and accepted the Letter of Award (“LOA”) from Green Ventures Development Sdn Bhd for the appointment as Turnkey Contractor for the construction of 2 18-storeys apartment blocks on Lot 151768, Wilayah Chepor Batu 10, Mukim Hulu Kinta, Perak. (the "Project"). The provisional contract amount is RM100,000,000 (Ringgit Malaysia One hundred Million). This project shall commence upon site possession and shall be completed within twenty-four (24) months from the date of commencement.
The Project is expected to contribute positively to the earnings and net assets of Vivocom for the duration of the Project.
The risks associated with the Project are mainly operational risks and risk of delay in completion of the Project. Notwithstanding this, the management of Vivocom will strive to ensure full compliance to the operational procedures in the execution of the requirements of the Project.
The Project is in the ordinary course of business and is 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 Project.
This announcement is dated 19 August 2016.
|Company Name||VIVOCOM INTL HOLDINGS BERHAD|
|Date Announced||19 Aug 2016|
|Category||General Announcement for PLC|