Announcements

Date : 26 February 2018

OTHERS EXTENSION OF CONCESSION FOR MAINTENANCE OF THE PENINSULAR FEDERAL ROAD

PROTASCO BERHAD

Type Announcement
Subject OTHERS
Description
EXTENSION OF CONCESSION FOR MAINTENANCE OF THE PENINSULAR FEDERAL ROAD

Reference is made to the Company's announcement on 14 March 2016 on the extension of concession for a further period of 10 years by the Government of Malaysia (“Government”), for maintenance of Federal Roads in Peninsular Malaysia (“Concession”) by Roadcare (M) Sdn Bhd (“Roadcare”), a subsidiary of the Company, comprising the following: 

  • an interim period of 2 years from 17 February 2016 till 16 February 2018 (“Interim Period”)  based on the same terms and conditions of the existing concession; and
  • 8 years concession from the expiry of the Interim Period, from 17 February 2018 till 16 February 2026 based on Performance Based Contract (“PBC”) model.

Following the expiration of the Interim Period of 2 years on 16 February 2018, Roadcare has entered into a Supplemental Interim Agreement with the Government for a further extension of the Interim Period for a further period of 3 months which shall expire on 16 May 2018. 

The Supplemental Interim Agreement shall automatically be terminated upon the signing of new concession agreement with the Government.   






Announcement Info

Company Name PROTASCO BERHAD
Stock Name PRTASCO
Date Announced 26 Feb 2018
Category General Announcement for PLC
Reference Number GA1-26022018-00104



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