We refer to Bursa Malaysia Securities Berhad's letter dated 4 August 2006 and wish to announce the status of progress of the Ventures of SunCon Group, details as set out in Table 1 below.
This announcement is dated 20 February 2020.
Table 1
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Date of First Announcement
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Subject Matter
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Status
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30.01.2018 &
27.07.2018
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Sunway Concrete Products (S) Pte Ltd, an indirect wholly-owned subsidiary of SunCon, has on 30 January 2018 entered into a Joint Venture Agreement (“JV Agreement”) with HL Building Materials Pte Ltd, a subsidiary of Hong Leong Asia Ltd. Under the JV Agreement, a joint venture company has been established to tender for the lease of land in Singapore from the Building and Construction Authority ("BCA").
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The joint venture company, HL-Sunway JV Pte Ltd has, on 27 July 2018, won the bid for the lease of land for the development of the Integrated Construction Fabrication Hub (“Plant”) from BCA. We have awarded the construction work of the Plant in November 2019. The Plant is expected to be in operation by first quarter of 2022.
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01.04.2019
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Sunway Builders (Myanmar) Co Ltd, an indirect wholly-owned subsidiary of SunCon, had on 1 April 2019 entered into a Memorandum of Understanding with Capital Construction Limited to cooperate, collaborate and share expertise on infrastructure and construction projects in Myanmar.
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Discussion in progress on the collaboration.
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28.06.2019
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Sunway Engineering Sdn Bhd (“SESB”), an indirect wholly-owned subsidiary of SunCon, has on 28 June 2019 accepted the Letter of Appointment issued by Ssangyong Engineering & Construction Co Ltd confirming the appointment of SESB as the Nominated Sub-Contractor for the Supply, Delivery, Installation, Testing and Commissioning of the Electrical and ELV Services in respect of the project known as Proposed Development of 3 Blocks of Mixed Commercial which consists of Service Suites, Hotels and Office Block on Lot No. 99, Jalan Ampang, Seksyen 56, Kuala Lumpur for Oxley Rising Sdn Bhd, for a total contract sum of RM67,800,000.
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Work has commenced and revenue recognized in the 3rd quarter of 2019.
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