Gadang Holdings Berhad (“Gadang” or “Company”) is pleased to announce that its wholly-owned subsidiary, Gadang Engineering (M) Sdn Bhd (“GESB”), has secured a RM90,395,529.52 subcontract works from Binary Vista Sdn Bhd to undertake pavement and road furniture works for Central Spine Road, Pakej 2 (“Subcontract”).

The Subcontract is for a duration of 24 months and shall be completed by the second quarter of 2024.

The Subcontract is expected to contribute positively to the earnings and net assets of Gadang Group for the financial year ending 31 May 2022 and onwards, during the duration of the Subcontract.

The risks factors affecting the Subcontract comprise mainly the normal operational and execution risks which the Group would take appropriate measures to address them.

None of the directors or major shareholders of Gadang or persons connected with them has any interest, whether direct or indirect, in the Subcontract.

This announcement is dated 29 April 2022.