News

Ekovest is pleased to announce that our wholly-owned subsidiary, EkoRiver Construction Sdn Bhd (formerly known as Ekovest-MRCB Construction Sdn Bhd), had, on 24 October 2016, received a letter of acceptance from DBKL for the proposed improvement and beautification works at the following nodes:-

1. Package 4A – Sungai Klang vicinity from Jalan Kinabalu to Jalan Maarof; and

2.Package 4B – Brickfields; Jalan Scott, Jalan Tun Sambanthan 4, Jalan Thambipillay, Jalan Sultan Abdul Samad, Jalan Vivekananda, Jalan Rozario, Lorong Chan Ah Tong, Jalan Chan Ah Tong, Jalan Tebing;

and the construction of an Interceptor system and related works to improve the river water quality including the water treatment system along the Sungai Gombak and Sungai Klang (“Works”). The total contract sum for the Works is RM255,493,254.17 excluding 6% Goods and Service Tax (“GST”) and the completion period for the Works is for 130 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 24 October 2016.