The Board of Directors of Fajarbaru Builder Group Bhd. (“FBG” or “the Company”) wishes to announce that its wholly owned subsidiary of the Company, Fajarbaru Builder Sdn. Bhd. has on 26 March 2021 accepted a Letter of Award dated 25 March 2021 from Malaysia Airports Sdn. Bhd. in respect of the “Proposed Development of Business Aviation 1 (BA-1) at part of Lot 1210 (Plot L & H), Sultan Abdul Aziz Shah Airport, Subang, Selangor – Earthwork Package” (“the Contract”).

The Contract period is six (6) months commencing from 12 April 2021 to 11 October 2021.

The Contract value is Ringgit Malaysia Three Million Eight Hundred Eighty Eight Thousand Eight Hundred Eighty Eight Only (RM3,888,888.00), inclusive of Sales and/or Service tax (SST) and any applicable taxes imposed.

The Contract will have no material effect on the share capital and substantial shareholders’ shareholding of FBG. 

The Contract is expected to contribute positively to the earnings and net assets of the FBG Group for the financial years ending 30 June 2021 and 30 June 2022.

None of the Directors and Substantial Shareholders, persons connected to the Directors or Substantial Shareholders of the Company and its subsidiaries or persons connected thereto have any interest, direct or indirect in the Contract.

The Directors of the Company are of the opinion that the Contract is in the best interest of the Group.

This announcement is dated 26 March 2021.