| Type | Announcement |
| Subject | OTHERS |
| Description | EKOVEST BERHAD (“Ekovest”) Appointment of Ekovest as the main contractor of the Duta-Ulu Kelang Expressway extension (“DUKE Phase-2”) |
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The Board of Directors of Ekovest is pleased to announce that we had, on 4 December 2013, received a letter from our 70% owned subsidiary, Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd (“Kesturi”), to inform us that our appointment as the master contractor for the design, construction, safety, landscaping, maintenance of temporary and permanent construction works, signage works relating to DUKE Phase-2 (including the design, supply, installation and maintenance of tolling or other equipment) at a contract value of Malaysian Ringgit: One Billion One Hundred Eighty Three Million Two Hundred Thirty Three Thousand Seven Hundred and Seventeen Only (RM1,183,233,717.00) (“Contract”) is deemed unconditional. The Contract is for a period of three (3) years and is expected to be completed at the end of year 2016. The appointment of Ekovest as the master contractor for the DUKE Phase-2 is expected to contribute positively to our future earnings. The Contract is subject to normal construction risks in which Ekovest and its subsidiaries (“Group”) are already exposed to. Nonetheless, the construction risks could be managed and mitigated with the experience and expertise of the Group to complete construction projects. The Board of Directors of the Company is of the opinion that the Contract is in the best interest of the Company. This announcement is dated 4 December 2013. |
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| Company Name | EKOVEST BERHAD |
| Stock Name | EKOVEST |
| Date Announced | 4 Dec 2013 |
| Category | General Announcement |
| Reference No | EE-131204-51791 |