The Board of Directors of KAB is pleased to announce that KAB had on 27 May 2020 accepted a Letter of Acceptance ("LOA") with the contract sum of RM11 million from Kerjaya Prospek (M) Sdn Bhd [Company No. 199501023204 (352407-U)]. The Company shall act as the nominated subcontractor for supply, delivery, installation, testing and commissioning  of electrical services works for Patsawan Properties Sdn Bhd on the one block of 54th floors Service Apartment located at Lot 393, Seksyen 63, Jalan Kia Peng, Kuala Lumpur. 

The date of commencement of the contract is on 27 May 2020,  i.e. upon the acceptance of the LOA from Kerjaya Prospek (M) Sdn Bhd. The delivery of KAB's services is expected to be completed by 31 January 2023.

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 27 May 2020.

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