EKOVEST BERHAD (Ekovest) RECEIPT OF LETTER OF ACCEPTANCE FROM DEWAN BANDARAYA KUALA LUMPUR (DBKL) FOR IMPROVEMENT AND BEAUTIFICATION WORKS AT PACKAGE 2: TAMAN TITIWANGSA, KUALA LUMPUR, FOR THE RIVER OF LIFE PROJECT (PHASE 2)
Ekovest is pleased to announce that our wholly-owned subsidiary, EkoRiver Construction Sdn Bhd (“ERCSB”), had on 12 March 2018, received a letter of acceptance from DBKL for the improvement and beautification works at Package 2 – Taman Titiwangsa, Kuala Lumpur, Federal Territory of Kuala Lumpur for the River of Life Project (Phase 2) (“Works”).
The total contract sum for the Works is RM99,888,888.00 (excluding 6% Goods and Service Tax (“GST”)) (Contract sum including 6% GST is RM105,882,221.28) and the completion period for the Works is for seventy-eight (78) weeks.
The Works is expected to contribute positively to the future revenue and earnings of Ekovest Berhad and its subsidiaries (“Ekovest Group”).
The Works is subject to normal 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 Works.
This announcement is dated 12 March 2018.
|Company Name||EKOVEST BERHAD|
|Date Announced||12 Mar 2018|
|Category||General Announcement for PLC|