We refer to Bursa Malaysia Securities Berhad's letter dated 4 August 2006 and wish to announce the status of progress of the Ventures of SunCon Group, details as set out in Table 1 below.
This announcement is dated 25 May 2022.
Table 1
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Date of First Announcement
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Subject Matter
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Status
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30.01.2018 &
27.07.2018
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Sunway Concrete Products (S) Pte Ltd, an indirect wholly-owned subsidiary of SunCon, has on 30 January 2018 entered into a Joint Venture Agreement (“JV Agreement”) with HL Building Materials Pte Ltd, a subsidiary of Hong Leong Asia Ltd. Under the JV Agreement, a joint venture company has been established to tender for the lease of land in Singapore from the Building and Construction Authority ("BCA").
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The joint venture company, HL-Sunway JV Pte Ltd has, on 27 July 2018, won the bid for the lease of land for the development of the Integrated Construction Fabrication Hub (“Plant”) from BCA. We have awarded the construction work of the Plant in November 2019. The Plant is expected to be in operation by 3rd quarter of 2022.
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01.04.2019
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Sunway Builders (Myanmar) Co Ltd (“Myanmar Subsidiary”), an indirect wholly-owned subsidiary of SunCon, had on 1 April 2019 entered into a Memorandum of Understanding with Capital Construction Limited to cooperate, collaborate and share expertise on infrastructure and construction projects in Myanmar.
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Due to the recent military coup in Myanmar, we have decided to defer activities in this Country.
The Myanmar Subsidiary has on 30 March 2022, commenced the members’ voluntary winding-up pursuant to Section 345 of the Myanmar Companies Law and the Myanmar Insolvency Law.
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26.03.2020
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Sunway Construction Sdn Bhd – RNS Infrastructure Limited (“Consortium”), a consortium formed by Sunway Construction Sdn Bhd (“SCSB”), a wholly-owned subsidiary of SunCon and RNS Infrastructure Limited, has on 26 March 2020 accepted a Letter of Award issued by the National Highways Authority of India, in respect of the following project for a total contract sum of Rs.864.51 Crore in addition to a 15-years operating and maintenance contract at Rs.7.08 Crore per annum:
"Four laning of Thorapalli Agraharam – Jittandahalli Section of NH-844 from Km 25.000 to Km 63.500 (existing Chainage) corresponding to Km 23.350 to Km 60.100 (Design Chainage) under Bharatmala Pariyojana Phase-I (National Corridor) on Hybrid Annuity Model in the State of Tamil Nadu (Package-II of Hosur Dharamapuri Section)" ("TJ Project").
The TJ Project will be operated under the Hybrid Annuity Model for a concession period of 15 years plus 2-years construction period. The construction for the TJ Project shall commence in October 2020 and is expected to be completed within 2 years.
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A joint venture company, Sunway RNS TJ Private Limited (“Sunway RNS TJ”), has been incorporated on 22 July 2020 by the Consortium to undertake the TJ Project.
Concession agreement has been signed on 23 December 2020 and financial close for the TJ Project had been successfully completed on 20 May 2021.
Sunway RNS TJ was informed by NHAI that the appointed date for the TJ Project was on 7 December 2021, subject to signing of a supplementary agreement with NHAI.
Supplemental agreement has been signed on 24 January 2022.
Work has commenced.
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09.06.2020
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SCSB had on 9 June 2020 entered into a Memorandum of Understanding with ENGIE South East Asia Pte Ltd to record the parties’ intention to collaborate via a joint venture company to undertake, as a project owner and developer, engineering, financing, construction, operations and maintenance of district cooling system (brown field or green field) in Malaysia.
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Both parties are going through the drafting of the joint venture agreement.
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27.12.2021
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Letter of Intent issued by GBS Suria Sdn Bhd, a wholly-owned subsidiary of Gopeng Berhad, for the Design, Engineering, Procurement, Construction, Testing and Commissioning of Solar Photovoltaic Energy Generating Facility with Ancillary Equipment and Facilities with Generating Capacity of 50MW located at Lot 45547 GRN:124174 Mukim Teja, Daerah Kampar, Perak Darul Ridzuan, for a total contract sum of RM200,000,000 only.
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In the mist of preparatory works. The completion date for this contract is 31 December 2023.
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27.12.2021
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Letter of Intent issued by Sharp Ventures Solar Sdn Bhd for the Design, Engineering, Procurement, Construction, Testing and Commissioning of Solar Photovoltaic Energy Generating Facility with Ancillary Equipment and Facilities with Generating Capacity of 50MW located at part of the land known as GRN 47151, Lot 5495, Mukim Kapar, Daerah Klang, Selangor Darul Ehsan, for a total contract sum of RM185,000,000 only.
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In the mist of preparatory works. The completion date for this contract is 31 December 2023.
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