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Date : 24 June 2015

OTHERS ACCEPTANCE OF CONTRACTS

MALAYSIAN RESOURCES CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description
ACCEPTANCE OF CONTRACTS

Malaysian Resources Corporation Berhad (“MRCB” or “the Company”) is pleased to announce that it had today accepted the award of contract for the construction of a Conference Centre, Desa Desaru and Westin Desaru Resort at Desaru Coast for a total contract price of RM485 million from Destination Resorts and Hotel (“DRH”).

DRH was established in 2010 by the Malaysian Government’s investment arm, Khazanah Nasional Berhad. It is the stragegic owner and developer of Desaru Coast, a world class premier travel destination within the region which is located on Johor East Coast.

On 18 June 2015, DRH through its subsidiary companies had awarded the 3 construction projects to MRCB on the following terms:

Project

Owner

Contract Price

Component

1.  Conference Centre

Desaru Convention Centre Sdn Bhd

RM61.4 million

Conference Centre and one level of basement car park

2.  Desa Desaru

Desaru Estate Sdn Bhd

RM212 million

386 keys hotel in 9 blocks of 5 storey buildings

3.  Westin Desaru Resort

Desaru Corniche Hotel Sdn Bhd

RM211.6 million

275 keys hotel in 4 blocks of 4 to 5 storey buildings

The construction period of the above projects is between 19 to 21 months from the date of site possession of 25 June 2015.

All the above projects are expected to contribute positively to the future earnings of MRCB Group.

None of the Directors, substantial shareholders and/or persons connected with any Director or a substantial shareholder of the Company, have any interest, direct or indirect, in all the above projects.






Announcement Info

Company Name MALAYSIAN RESOURCES CORPORATION BERHAD
Stock Name MRCB
Date Announced 24 Jun 2015
Category General Announcement for PLC
Reference Number GA1-24062015-00060