1.  LETTER OF AWARD

The Board of Directors of G Capital Berhad (“GCAP” or “the Company”) wishes to announce that G Capital Water Solutions Sdn. Bhd. (“GCAP Water Solutions”) (formerly known as ZMZ Synergy Sdn. Bhd.), a 51%-owned subsidiary of the Company had on 8 July 2022 has been awarded a Letter of Award (“LOA”) from Pembinaan Limpah Bersatu Sdn. Bhd. [Registration No. 200901033404 (876517-P)] (“Pembinaan Limpah”) to be the Non-Revenue Water (“NRW”) specialist sub-contractor for “Program Non-Revenue Water (NRW) Nasional Pendekatan 1 – Pulau Langkawi”.

(Hereinafter referred to as “the Project”).

The Project is managed and funded by Ministry of Environment and Water of Malaysia, also known as Kementerian Alam Sekitar Dan Air (“KASA”). Pembinaan Limpah has appointed GCAP Water Solutions to be NRW specialist for a contract sum of RM7.05 million.

The Project is estimated to complete within thirteen (13) months commencing July 2022. Under which, the scope of works of NRW specialist includes the following:-

1. NRW reduction at Pulau Langkawi;
2. Hydraulic modelling;
3. Pipe assessment;
4. Network improvement; and
5. Pipe replacement works.

2.  INFORMATION ON PEMBINAAN LIMPAH

Pembinaan Limpah is a private limited company, incorporated and domiciled in Malaysia and having its registered address at 33-3, Jalan Metro Perdana Barat 1, Taman Usahawan Kepong Utara, Kuala Lumpur, Malaysia. As a building contractor, Pembinaan Limpah’s principal place of business is located at No. 6, Jalan Haruan, Taman Selesa, Buloh Kasap, 85000 Segamat, Johor, Malaysia.

3.  FINANCIAL EFFECTS OF THE LOA

The Project is expected to contribute positively to the future earnings of the Group as the Project progressing towards completion.

Save for the above, the LOA is not expected to have any material impact on the earnings and net assets of the Group for the financial year ending 31 December 2022.

4.  DIRECTORS AND SUBSTANTIAL SHAREHOLDERS’ INTEREST

None of the Directors or major shareholders of GCAP and persons connected with them has any direct or indirect interests, in the LOA.

5.  STATEMENT BY DIRECTORS

The Board of GCAP is of the opinion that the LOA is in the best interest of the Group.

6.  APPROVAL REQUIRED

The LOA does not require the approval of shareholders of the Company, Bursa Malaysia Securities Berhad or Securities Commission Malaysia.

This announcement is dated 8 July 2022.