The Board of Directors of KAB is pleased to announce that KAB had on 9 January 2020 accepted a Letter of Award ("LOA") with the contract sum of RM19.0 million from Binastra Ablebuild Sdn Bhd [Company No. 201301013219 (1043057-W)]. The Company shall act as the nominated subcontractor for the complete supply, delivery, installation, testing and commissioning of the electrical services for Binastra Land Sdn Bhd on three blocks of Pangsapuri Servis and Hotel located at Lot 162, Sungai Besi, Wilayah Persekutuan.

The date of commencement of the contract is on 9 January 2020, i.e. upon the acceptance of the LOA from Binastra Ablebuild Sdn Bhd. The delivery of KAB's services is expected to be completed by 15 November 2022.

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 9 January 2020.