News

The Board of Directors of KAB is pleased to announce that KAB had on 11 March 2020 accepted a Letter of Acceptance ("LOA") with the contract sum of RM28.6 million from China Construction Development (Malaysia) Sdn Bhd [Company No. 201601019829 (1190766-T)]. The Company shall act as the nominated subcontractor for design, supply, delivery, installation, testing & commissioning and maintenance of electrical and extra low voltage services works for Agile Tropicana Development Sdn Bhd on the three blocks of Pangsapuri Servis located at Lot 497, 498, 499, Jalan Bukit Bintang, Lot PT 134 (511), 512, 513, Jalan Delima, Lot 503, 504, 1160 & 1181, Jalan Jati, Kuala Lumpur. 

The date of commencement of the contract is on 11 March 2020, i.e. upon the acceptance of the LOA from China Construction Development (Malaysia) Sdn Bhd. The delivery of KAB's services is expected to be completed by 9 January 2024.

The LOA is expected to contribute positively to the future earnings of KAB for the duration of the contracts.

There are no foreseeable significant risks other than normal business and operational risk associated with the LOA.

None of the Directors and/or major shareholders of the Company or persons connected with them, have any interest, direct or indirect, in the LOA.

This announcement is dated 11 March 2020.