Protasco Berhad (“Protasco”)  is pleased to announce that, its 70% owned subsidiary, Permint Granite-HCM Sdn Bhd has entered into a supplementary agreement with the State Government of Terengganu (“Government”) to supplement the principal agreement which was entered between the parties in 2017.

Under the principal agreement, the Government awarded Permint Granite-HCM Sdn Bhd a 5 year contract to maintain minor roads in the state of Terengganu, at a total contract sum of RM49.9 million (“the Works”), which was expired in April 2022.  

Whilst Permint Granite – HCM Sdn Bhd  is proceeding with the Works under the Agreement, the parties have agreed to effect mainly the following matters through amendment to the principal agreement under the Supplementary Agreement:  

a)       The addition of emergency works for minor road in Facilities and Maintenance Services 

b)       The change of contract period from 5 years to 10 years until 2027

c)       The change of contract sum from RM49.9 million to RM171.843 million

The extended contract period for the Works is expected to contribute positively towards Protasco Group’s results for the financial year ending 31 December 2022.