Apr 17, 2017

Type Announcement
Subject OTHERS

EKOVEST BERHAD ("Ekovest") Receipt of Letter of Award from Dewan Bandaraya Kuala Lumpur ("DBKL") for the "Blue River Project" in the vicinity of the River of Life Precinct 7 - Masjid Jamek Kuala Lumpur Zone

We make reference to our announcement dated 15 March 2017 in relation to the above matter.

Ekovest is pleased to announce that our wholly-owned subsidiary, EkoRiver Construction Sdn Bhd (“ERCSB”) had, on 17 April 2017, received the Letter of Award from DBKL for the appointment of ERCSB as the design and build contractor (“LOA”) to undertake the “Blue River Project” in the vicinity of the River of Life Precinct 7 – Masjid Jamek Kuala Lumpur Zone (“Project”). The Project is for a period of eighteen (18) weeks and shall be completed before 30 August 2017.

The total contract value for the Project is RM79.0 million (excluding Goods & Services Tax) and the amount is inclusive of a five (5) years operations and maintenance period for the Project.  

The appointment of ERCSB for the Project is expected to contribute positively to the future revenue and earnings of Ekovest Berhad and its subsidiaries (“Ekovest Group”).

The Project is subject to construction risks in which the Ekovest Group are already exposed to. Nonetheless, the construction risks will be managed and mitigated with the experience and expertise of the Ekovest Group to complete construction projects.

None of the directors or substantial shareholders of the Company, or persons connected with them, has any interest, direct or indirect, in the Project.

This announcement is dated 17 April 2017.


Announcement Info

Stock Name EKOVEST
Date Announced 17 Apr 2017
Category General Announcement for PLC
Reference Number GA1-17042017-00051