OTHERS VIVOCOM INTL HOLDINGS BERHAD ("VIVOCOM" OR THE "COMPANY") - AWARD OF CONTRACT
|VIVOCOM INTL HOLDINGS BERHAD|
VIVOCOM INTL HOLDINGS BERHAD ("VIVOCOM" OR THE "COMPANY") - 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 26 September 2017, received and accepted the Letter of Award (“LOA”) from Udaran Sdn Bhd to construct and complete the construction of mixed development consisting of 2 blocks of 372 units of service apartments and 9 units of shoplots for Lembaga Tabung Amanah Warisan Negeri Terengganu at Lot PT 4311, Kampung Ladang Tanjung Bandar Kuala Terengganu, Terengganu Darul Iman (“Project’).
The contract amount for the said Project is RM75,000,000 (Ringgit Malaysia Seventy Five Million). This project shall commence upon site possession and shall be completed within thirty six (36) 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 26 September 2017.
|Company Name||VIVOCOM INTL HOLDINGS BERHAD|
|Date Announced||26 Sep 2017|
|Category||General Announcement for PLC|