Bursa Announcements
Date : 11 March 2013
OTHERS SUNWAY BERHAD (“SUNWAY”) - LETTER OF AWARD TOTALLING APPROXIMATELY RM452.5 MILLION FROM SYARIKAT PRASARANA NEGARA BERHAD
| SUNWAY BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | SUNWAY BERHAD (“SUNWAY”) - LETTER OF AWARD TOTALLING APPROXIMATELY RM452.5 MILLION FROM SYARIKAT PRASARANA NEGARA BERHAD |
The Board of Directors of Sunway is pleased to announce that Sunway Construction Sdn Bhd (“SunCon”), a wholly-owned subsidiary of Sunway Holdings Sdn Bhd which in turn is a wholly-owned subsidiary of Sunway, has on 11 March 2013, accepted the letter of award worth approximately RM452.5 million from Syarikat Prasarana Negara Berhad (“Prasarana”) for the proposed Design, Construction, Completion and Commissioning of : 1) Guideway & Halts; 2) Depot; 3) Park n Ride; and 4) Mechanization of Oxidation Pond of the Bus Rapid Transit (“BRT”) - Sunway Line [hereinafter referred to as the “Proposed BRT- Sunway Line”]. The Proposed BRT - Sunway Line is targeted to be completed within 24 months from the date of award and is expected to contribute positively to the earnings of Sunway from the financial year ending 31 December 2013 onwards. The Proposed BRT - Sunway Line will provide eco-friendly bus services on elevated tracks for visitors to Sunway Resort City and residents in Bandar Sunway and Subang Jaya. The completion of the Proposed BRT - Sunway Line which is approximately 5.4 km will link up key commercial areas in Bandar Sunway and Subang Jaya with 7 stations as well as strategically connected to the other modes of public transportation such as Light Rail Transit and KTM Komuter. As part of Sunway’s continuous corporate social responsibility initiatives, Sunway will additionally and separately contribute works estimated to cost approximately RM99.0 million to the Proposed BRT - Sunway Line. The Proposed BRT - Sunway Line is subject to normal construction risk of materials price fluctuation. However, with the past experience and expertise of SunCon in construction projects in Malaysia, this risk could be mitigated. None of the directors or substantial shareholders of Sunway or persons connected with them has any interest, whether direct or indirect in the Proposed BRT - Sunway Line. This announcement is dated 11 March 2013. | |
Announcement Info
| Company Name | SUNWAY BERHAD |
| Stock Name | SUNWAY |
| Date Announced | 11 Mar 2013 |
| Category | General Announcement |
| Reference No | SS-130311-2BC23 |