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 4 January 2018, received and accepted the Letter of Award (“LOA”) from Almaventures Development Sdn Bhd to construct and complete the construction of a block of 44 storeys, 902 units of affordable housing with 7 floors of car park at Lot 30135 (Lot Asal 3799), Jalan Gombak, Mukim Setapak, Wilayah Persekutuan Kuala Lumpur (“Project’).
The contract amount for the said Project is RM143,000,000 (Ringgit Malaysia One Hundred and Forty Three 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 4 January 2018.
|Company Name||VIVOCOM INTL HOLDINGS BERHAD|
|Date Announced||04 Jan 2018|
|Category||General Announcement for PLC|