News

The Board of Directors of KAB is pleased to announce that KAB had on 22 February 2021 accepted a Sub-Contract Agreement ("SA") with the contract sum of RM23.4 million from CNQC Engineering & Construction (Malaysia) Sdn Bhd [Company No. 201701046545 (1260721-T)]. The Company shall act as the nominated subcontractor for design, supply, construct, perform, install, complete and maintenance during the defects liability periods for internal and external electrical services, street/compound lighting, lightning protection & earthing system and internal & external telephone services for Agile Property Development Sdn Bhd on the three blocks of Service Apartments located at Lot 258, Seksyen 89A, Jalan Ampang, Bandar Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur.

The date of commencement of the contract is on 22 February 2021, i.e. upon the acceptance of the SA from CNQC Engineering & Construction (Malaysia) Sdn Bhd. The delivery of KAB's services is expected to be completed by 31 October 2023.

The SA is expected to contribute positively to the future earnings of KAB for the duration of the contract.

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

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

This announcement is dated 22 February 2021.