Bursa Announcements
Date : 19 March 2013
OTHERS SUNWAY BERHAD (“SUNWAY”) - LETTER OF AWARD TOTALLING RM304 MILLION FROM CITITOWER SDN BHD [A JOINT VENTURE COMPANY BETWEEN KLCC (HOLDINGS) SDN BHD AND QD ASIA PASIFIC LTD]
| SUNWAY BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | SUNWAY BERHAD (“SUNWAY”) - LETTER OF AWARD TOTALLING RM304 MILLION FROM CITITOWER SDN BHD [A JOINT VENTURE COMPANY BETWEEN KLCC (HOLDINGS) SDN BHD AND QD ASIA PASIFIC LTD] |
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, had on 18 March 2013, accepted the letter of award worth RM304 million from Cititower Sdn Bhd [a joint venture company between KLCC (Holdings) Sdn Bhd and QD Asia Pasific Ltd] for package 1: construction and completion of North East Car Park (NEC) underneath KLCC Park and associated works for the proposed Lot 185, Lot 167(K) and Lot 176 mixed development at Persiaran KLCC, Kuala Lumpur City Centre (hereinafter referred to as the “Proposed Project”). The scope of works include, amongst others, excavation works, construction and installation of diaphragm wall, foundation and piling works, construction of 6 levels basement car park and its associated works. The Proposed Project is expected to commence upon handing over of site possession which is to be determined later, with a construction period of 178 weeks henceforth. It is expected to contribute positively to the earnings of Sunway Group from the financial year ending 31 December 2013 onwards. The Proposed Project 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 Project. This announcement is dated 19 March 2013. | |
Announcement Info
| Company Name | SUNWAY BERHAD |
| Stock Name | SUNWAY |
| Date Announced | 19 Mar 2013 |
| Category | General Announcement |
| Reference No | SS-130319-63A39 |