OTHERS AWARD OF CONTRACT
|VIVOCOM INTL HOLDINGS BERHAD|
AWARD OF CONTRACT
The Board of Directors of Vivocom Intl Holdings Berhad (“Vivocom” or “the Company”) is pleased to announce that its subsidiary company, Vivocom Enterprise Sdn Bhd (“VESB”), had on 13 June 2017, received and accepted the Letter of Award (“LOA”) from S.B.A Property Management Sdn Bhd to construct and complete the construction of 4 blocks of 1,200 units of condominiums for 1Malaysia Civil Servants' Housing Programme (PPA1M) at Lot PT 16636 Seluas 5.02 Hektar (12 Ekar), Mukim Lumut, Daerah Manjung, Perak (“Project’).
The contract amount for the said Project is RM195,225,000 (Ringgit Malaysia One Hundred Ninety Five Million Two Hundred Twenty Five Thousand). This project shall commence upon site possession and shall be completed within forty-two (42) 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 13 June 2017.
|Company Name||VIVOCOM INTL HOLDINGS BERHAD|
|Date Announced||13 Jun 2017|
|Category||General Announcement for PLC|