INTRODUCTION

The Board of Directors ("the Board") of KKB Engineering Berhad ("the Company" or "KKB") is pleased to announce that the Company has been awarded the Tender for Annual Supply and Delivery of Steel Poles Ref.: DPC108/19 from Sarawak Energy Berhad.

The contract sum for the abovementioned contract is approximately RM15 million (Ringgit Malaysia: Fifteen Million Only).

DURATION OF CONTRACT

The contract duration is approximately one (1) year.

FINANCIAL EFFECTS

The above contract is expected to contribute positively to the earnings and net assets of the KKB Group for the financial year ending 31 December 2020.

RISK FACTORS

Risk factors affecting the contract include execution risk such as COVID-19's Movement Control Order, availability of skilled manpower and materials, change in pricing, weather conditions and/or political, economic and regulatory conditions.

DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS

None of the Directors and/or major shareholders and/or person connected with them has any interest, direct or indirect in the abovementioned contract.

DIRECTORS' STATEMENT

The Board is of the opinion that the abovementioned contract is in the best interest of KKB and its Group. 

This Announcement is dated 20 April 2020.