The Board of Directors (“the BOD”) of Scomi Group Bhd (“SGB” or “the Company”) is pleased to announce that SGB has on 15 July 2021 entered into a Joint Venture Agreement (“JV Agreement”) with RC Asia Engineering Sdn Bhd (“RCA”) (collectively referred to as the “Parties”) for the purpose of regulating the conditions for and of a joint venture company to be incorporated later (“JV Co” or “Proposed JV”). The purpose of the Proposed JV is to formalise a collaboration between the Parties and to draw upon the skills, expertise, experience and capabilities of each other for the benefit of the JV Co and to collectively bid for tenders for construction of railway stations, tracks or other related railway infrastructures in the rail industry.

Further details of the Proposed JV are set out in the attachment below.

This announcement is dated 15 July 2021.