1. INTRODUCTION

The Board of Directors of AWC is pleased to announce that AWSB, a wholly-owned subsidiary of AWC, had on today, 3 December 2020, accepted the LOA from LPB to provide comprehensive management, maintenance and operational services for Bangunan Menara Kidurong, Lembaga Pelabuhan Bintulu, Bintulu, Sarawak (“Contract”).

2. DETAILS OF CONTRACT

The contract period shall be four (4) years commencing from 3 January 2021 to 2 January 2025 (“Contract Period”).

The total contract sum is RM5,028.250.93 for the Contract Period.

3. RISK FACTORS

The potential risks involved in this Contract are considered normal operational risks.

4. FINANCIAL EFFECTS

The Contract is expected to contribute positively towards the future earnings of the AWC Group over the duration of the Contract.

5. DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTEREST

None of the Directors, major shareholder of AWC and/or persons connected with them have any interest, whether direct or indirect, in the Contract.

6. STATEMENT OF DIRECTORS

The Board of Directors of the Company is of the opinion that the Contract is in the ordinary course of business and is in the best interests of the Company.

This announcement is dated 3 December 2020.