| Type | Announcement |
| Subject | OTHERS |
| Description | EKOVEST BERHAD (“Ekovest”) Acceptance of letter of award from Dewan Bandaraya Kuala Lumpur (“DBKL”) for proposed improvement and beautification works at Precinct 7 which comprises of the following nodes: Saint Mary’s Cathedral, Leboh Pasar Besar, Dayabumi Promenade, L.R.T Pasar Seni, China Town/Petaling Street, Panggung Bandaraya, Masjid Jamek and Bangunan Sultan Abdul Samad |
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Ekovest is pleased to announce that our 60% owned subsidiary, Ekovest-MRCB Construction Sdn Bhd, had, on 15 January 2014, accepted a letter of award from DBKL for the proposed improvement and beautification works at Precinct 7 which comprises of the following nodes: Saint Mary’s Cathedral, Leboh Pasar Besar, Dayabumi Promenade, L.R.T Pasar Seni, China Town/Petaling Street, Panggung Bandaraya, Masjid Jamek and Bangunan Sultan Abdul Samad (“Works”). Precinct 7 is one of the eleven precincts along the 10.7 kilometers River of Life project. The total contract sum for the Works is RM130,000,000 and the completion period for the Works is for 104 weeks from the date of site possession (“Contract”). Barring unforeseen circumstances, the Works is expected to be completed in 2016.
The acceptance of the letter of award for the Contract is expected to contribute positively to our future earnings. The Works is subject to normal construction risks in which Ekovest and its subsidiaries (“Group”) are already exposed to. Nonetheless, the construction risks will be managed and mitigated with the experience and expertise of the 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 Contract. This announcement is dated 15 January 2014. |
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| Company Name | EKOVEST BERHAD |
| Stock Name | EKOVEST |
| Date Announced | 15 Jan 2014 |
| Category | General Announcement |
| Reference No | EE-140115-63723 |