WCEHB

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OTHERS WCE HOLDINGS BERHAD ("WCEHB" or "the Company") ACCEPTANCE OF LETTER OF AWARD BY EPC CONTRACTOR FOR THE CONSTRUCTION OF SECTION 7B OF THE WEST COAST EXPRESSWAY PROJECT

WCE HOLDINGS BERHAD

Type Announcement
Subject OTHERS
Description
WCE HOLDINGS BERHAD ("WCEHB" or "the Company")

ACCEPTANCE OF LETTER OF AWARD BY EPC CONTRACTOR FOR THE CONSTRUCTION OF SECTION 7B OF THE WEST COAST EXPRESSWAY PROJECT

 

 

The Company wishes to announce that KEB Builders Sdn Bhd (“KEBSB”), a wholly owned-subsidiary and construction arm of the Company has accepted a Letter of Award by IJMC-KEB Joint Venture, the Engineering, Procurement and Construction Contractor (“EPC Contractor”) of the West Coast Expressway Project (“the Project”) to construct and complete Section 7, Part 2 of 2 (“Section 7B”) of the Project at a fixed contract sum of RM301 million ("the Contract").  The completion period of the Contract is expected to be 30 months from the construction commencement date.

 

Section 7B is the last section of the Project to be awarded and it is approximately 10km in length from the beginning of the Assam Jawa Interchange towards the Tanjung Karang Interchange.  As per the Concession Agreement signed with the Government of Malaysia (“GOM”) dated 2 January 2013 and the Supplemental Agreement dated 11 December 2014, the procurement method for Section 7 is to be carried out by way of an open tender.  However, in the interest of time and cost, the GOM has approved the procurement method of Section 7B to be implemented by way of a direct award to KEBSB.  With this, all the construction packages for the entire alignment of the Project have been fully awarded.

 

The Contract is expected to contribute positively towards the future earnings of WCEHB Group and other than ordinary operational risks associated with the construction of Section 7B, there are no other foreseeable significant risks.

 

Mr Lee Chun Fai and IJM Corporation Berhad (“IJM”) is deemed to have an interest in this award by virtue that it was awarded by the EPC Contractor in which IJM has an interest. Other than disclosed above, none of the Directors or major/substantial shareholders of the Company or persons connected with them, has any interest, direct or indirect, in the Contract.

 

 

This announcement is dated 2 April 2021.






Announcement Info

Company Name WCE HOLDINGS BERHAD
Stock Name WCEHB
Date Announced 02 Apr 2021
Category General Announcement for PLC
Reference Number GA1-02042021-00015