OTHERS RANHILL UTILITIES BERHAD (FORMERLY KNOWN AS RANHILL HOLDINGS BERHAD) ("RANHILL" OR "THE COMPANY") - CONDITIONAL LETTER OF APPROVAL AND PERMISSION TO COMMENCE NEGOTIATION WITH RELEVANT GOVERNMENT AGENCIES TO DEVELOP A 30 MLD WATER TREATMENT PLANT IN KOTA BANDUNG, REPUBLIC OF INDONESIA
RANHILL UTILITIES BERHAD |
Type | Announcement |
Subject | OTHERS |
Description | RANHILL UTILITIES BERHAD (FORMERLY KNOWN AS RANHILL HOLDINGS BERHAD) ("RANHILL" OR "THE COMPANY") - CONDITIONAL LETTER OF APPROVAL AND PERMISSION TO COMMENCE NEGOTIATION WITH RELEVANT GOVERNMENT AGENCIES TO DEVELOP A 30 MLD WATER TREATMENT PLANT IN KOTA BANDUNG, REPUBLIC OF INDONESIA |
INTRODUCTION
The Board of Directors of Ranhill is pleased to announce that the Company, had on 28 July 2020 received a letter from Wali Kota Bandung accepting our proposal to build, operate and transfer of 350L/S (30MLD) Water Treatment Plant for Sistem Penyediaan Air Minum (“SPAM”) Regional Metropolitan Bandung Selatan Phase 2. (“Project”) subject to negotiation with the relevant government agencies.
INFORMATION ON THE PROJECT
The works under this Project comprises the supply of all materials, labour and applicable necessaries for the execution, completion, testing, commissioning of the water treatment plant :- Scope of Work To design and build of the following water treatment plant process:
Upon conclusion of negotiations with the relevant government agencies, Ranhill, the Wali Kota Bandung Government agency and the offtaker for Kota Bandung, PDAM Tirtawening Kota Bandung, will execute the relevant Project agreement(s).
FINANCIAL EFFECTS OF THE PROJECT
The execution of the Project will not have any material effect on the earnings, net assets and gearing of Ranhill for the current financial year ending 31 December 2020.
The execution of the Project will not effect on the issued and paid-up share capital and the substantial shareholders’ shareholdings of Ranhill.
DIRECTORS AND MAJOR SHAREHOLDERS’ INTEREST
None of the Directors, substantial shareholders of the Company and persons connected to them has any interest, direct and/or indirect, in the Project.
STATEMENT BY DIRECTORS
The Board, having taken into consideration all aspects of the Project is of the opinion that it is in the best interest of Ranhill.
APPROVALS REQUIRED
The execution of the Project is not subject to any approval from the Malaysian authorities. However, the execution of the Project agreement(s) is subject to approval from the relevant authorities in the Republic of Indonesia.
This announcement is dated 28 July 2020.
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Announcement Info
Company Name | RANHILL UTILITIES BERHAD |
Stock Name | RANHILL |
Date Announced | 28 Jul 2020 |
Category | General Announcement for PLC |
Reference Number | GA1-28072020-00091 |