ECOHLDS

0.080

+0.01 (+14.3%)

OTHERS ECOBUILT HOLDINGS BERHAD ("ECOBUILT" OR "THE COMPANY") - Letter of Award

ECOBUILT HOLDINGS BERHAD

Type Announcement
Subject OTHERS
Description
ECOBUILT HOLDINGS BERHAD ("ECOBUILT" OR "THE COMPANY") - Letter of Award

1.         Introduction

 

The Board of Directors of ECOBUILT is pleased to announce that its wholly owned subsidiary company, Eko Bina Sdn Bhd (“formerly known as E&J Builders Sdn Bhd”) (“EKO BINA”), had on 15 September 2021 accepted the Letter of Award from Harmoni Bumiria Sdn. Bhd. [Company No. 201001011591 (896251-P)], of G-38-G, Signature Office, KK Times Square, Off Coastal Highway, 88100 Kota Kinabalu, Sabah, a subsidiary of Asian Pac Holdings Berhad [Company No. 191301000011 (129-T)], for the appointment of EKO BINA as the Contractor for the Earthworks, Temporary Internal Strutting Works, Pilling and Pilecaps Works, Basement Slab, Contiguous Bored Pile Wall (based on Contractor Design System), R.C. Frame Work (Column, Lift Core Wall and R.C. Wall from Basement to Ground Floor), Ground Floor Beam and Slab and Staircase from Basement to Ground Floor for the Proposed Re-Development and Subdivision of Land for Commercial Development Comprising Offices, Shops and Service Suites (with Subsidiary Titles to be applied for) on TL. 017514617, Along Jalan Likas Bay Road and Jalan Tuaran, Likas, Kota Kinabalu, Sabah ("the Works").

 

2.        Contract sum and completion date

 

The contract sum for the Works is Ringgit Malaysia Thirty Five Million One Hundred Twenty Eight Thousand Nine Hundred Eighteen and Cents Eighty only (RM35,128,918.80) and the whole Works is expected to be completed within fifteen (15) months from the Date of Commencement, which to be ascertained at a later date or within such extended date as Conditions of Contract provides.

 

3.         Financial effects 

 

The Works is expected to contribute positively to the earnings and net assets of ECOBUILT Group for the financial year ending 31 May 2022.

 

4.         Risks

 

The risks associated with the Works are mainly operational risks, inter-alia, the inefficiency of operations and competition, as well as subject to challenges and risks arising from the property construction business. Notwithstanding this, the Board is confident given the competency and experience of the director, Datuk Ong Chee Koen and their team in the property construction industry and project management, the associated risks could be minimised.

 

The Works, upon commencement, will be subject to market risk, industry risk and also economy risk which may affect the property construction industry.

 

5.         Directors’ and Major Shareholders’ Interest

 

None of the Directors and/or major shareholders of the Company or persons connected with them, have any interest, direct or indirect, in the Works.

 

This announcement is dated 15 September 2021.






Announcement Info

Company Name ECOBUILT HOLDINGS BERHAD
Stock Name ECOHLDS
Date Announced 15 Sep 2021
Category General Announcement for PLC
Reference Number GA1-14092021-00020