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GBG is approved for listing on the Main Board of Bursa Malaysia, in 2011.

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BackOct 05, 2017
Type Announcement
Subject OTHERS
Description

Letter of Award received by Gabungan Strategik Sdn Bhd

The Board of Directors of GBGAQRS wishes to inform that Gabungan Strategik Sdn Bhd (Company No. 492885-H) (“GSSB”), a wholly-owned subsidiary company of GBGAQRS, has on even date received a Letter of Award dated 5 October 2017 (“Letter of Award”) from Prasarana Malaysia Berhad (Company No. 467220-U) of B-20-1, Level 20, Menara UOA Bangsar, No. 5, Jalan Bangsar Utama 1, 59000 Kuala Lumpur (“Prasarana”) and with the Project Delivery Partner, MRCB George Kent Sdn Bhd (Company No. 1159200-W) of Level 3, Menara MRCB, No. 2, Jalan Majlis 14/10, 40000 Shah Alam, Selangor Darul Ehsan, to undertake and complete the “Construction and Completion of Guideway, Stations, Park and Ride, Ancillary Buildings and Other Associated Works for Package GS04 for Construction and Completion of Light Rail Transit Line 3 (LRT 3) from Bandar Utama to Johan Setia”  subject to the terms and conditions as stated in the Letter of Award (“Project”).

 

The contract sum for the Project is RM1,205,614,320.00 only (inclusive of 6% GST) which comprises of RM1,137,372,000.00 only being the tender sum and RM68,242,320.00 only being the 6% GST on the tender sum.

 

The Project is for a period of 38 months. The Project is expected to contribute positively to GBGAQRS Group’s earnings for the financial year ending 31 December 2017 onwards.

 

Upon the award of the Project, GBGAQRS’s outstanding order book as at to-date amounts to RM2.6 billion.

 

The Project is subject to normal construction risk of materials price fluctuation. However, with the past experiences and expertise of GBGAQRS in construction projects, this risk has been factored in the tender sum of the Project.

 

None of the directors or major shareholders of GBGAQRS or persons connected with them has any direct or indirect interest in the Project.

This announcement is dated 5 October 2017.

 


Announcement Info

Company Name GABUNGAN AQRS BERHAD
Stock Name GBGAQRS
Date Announced 05 Oct 2017
Category General Announcement for PLC
Reference Number GA1-05102017-00072