The Board of Directors of Instacom Group Berhad (“Instacom”) is pleased to announce that Instacom has received and accepted the Letter of Award (“LOA”) from 1 M Utama Sdn Bhd (“1M”) on 20 May 2013 for the supply, installation, testing and commissioning of telecommunication network and infrastructure and engineering works in Sarawak (“the Project”). The LOA is subject to an agreement to be entered into by Instacom and 1M.

The Project value is up to Ringgit Malaysia Two Hundred and Five Million Only (RM205 million) and is expected to be completed within a period of three (3) years.

Barring any unforeseen circumstances, this Project is expected to contribute positively to the earnings and net assets of Instacom for the financial years ending 2013 to 2015. 

None of the Directors and/or major shareholders of Instacom or persons connected to them have any interest, direct or indirect, in the above Project.

This announcement is dated 20 May 2013.