Vivocom Intl Holdings Berhad

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 :-

1. On 30 December 2016 received and accepted the Letter of Award (“LOA”) from Oriental Mace Sdn Bhd for the appointment as Main Contractor for the construction of factory, warehouse and office buildings on Lot 886 Bandar Baru Enstek, Daerah Seremban, Negeri Sembilan Darul Khusus (“Project 1”). The contract sum is RM19,300,000 (Ringgit Malaysia Nineteen Million and Three Hundred Thousand). This project shall commence upon site possession and shall be completed within fifteen (15) months from the date of commencement. 
2. On 3 January 2017, received and accepted the Letter of Award (“LOA”) from Udaran Sdn. Bhd. for the appointment as Main Contractor for the construction of mixed development comprising of 2-storeys terrace houses and commercial buildings. The contract amount is RM52,000,000 (Ringgit Malaysia Fifty Two 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 located at Mukim Pulau Kerengga, Daerah Marang, Terengganu Darul Iman, untuk Tetuan Lembaga Tabung Amanah Warisan Negeri Terengganu (“Project 2”)

(“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 3 January 2017.