The Board of Ireka Corporation Berhad ("ICB") is pleased to announce that its wholly owned subsidiary, Ireka Engineering & Construction Sdn. Bhd. has today been awarded a contract by Fec Telco Sdn. Bhd., a wholly owned subsidiary of Wanland Metro Sdn. Bhd. for the 'Fibre-To-The-Home Connectivity Project' ("the Contract") in Langkawi, Kedah. The Contract is for a provisional sum of Ringgit Malaysia One Hundred Ninety Six Million (MYR 196,000,000.00) only subject to terms and conditions which, inter alia, includes the following salient terms:

1. The finalisation and acceptance of the network design and layout of the entire network by Landasan Salam Sdn. Bhd.;
2. The issuance by Malaysian Communications and Multimedia Commission (MCMC) of the related operating licenses governing the broadband operation;
3. The Contract is for a period of two (2) years and shall commence upon the acceptance of this letter of award; and
4. The Contract shall be undertaken in two (2) sections, namely:
   i) the Civil Works component including the supply and installation of fibre-optic cables and all related equipment, pole installations and commissioning works; and
   ii) The Network, IT, and Services components including the design and operations of the Contract network, Business Support System (BSS) inclusive of all IT, Operational Support System (OSS), and Over The Top (OTT) services to the targeted end-users.

The above Contract is expected to contribute positively to the earnings of ICB Group for the financial years ending 31 March 2022 onwards.

ICB does not foresee any exceptional risk other than normal operational risk associated with the Contract.

Barring unforeseen circumstances, the Board of ICB is of the opinion that the acceptance of the Contract is in the best interest of ICB Group.

None of the directors or substantial shareholders or persons connected with such directors or substantial shareholders of ICB have any direct or indirect interest in the Contract.

This announcement is dated 7 October 2021.