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OTHERS STELLA HOLDINGS BERHAD ("STELLA" or "the Company") - Mewah Kota Sdn Bhd, a wholly-owned subsidiary of the Company has received a Letter of Acceptance from Pengurusan Aset Air Berhad

STELLA HOLDINGS BERHAD

Type Announcement
Subject OTHERS
Description
STELLA HOLDINGS BERHAD ("STELLA" or "the Company")
- Mewah Kota Sdn Bhd, a wholly-owned subsidiary of the Company has received a Letter of Acceptance from Pengurusan Aset Air Berhad

Introduction

The Board of Directors of Stella Holdings Berhad is pleased to announce that Mewah Kota Sdn Bhd, a wholly-owned subsidiary of the Company has on 8 August 2022 accepted a Letter of Acceptance from Pengurusan Aset Air Berhad (“PAAB”) in respect of the project “Cadangan Menambahbaik Sistem Agihan di Parit Markom & Benut di Daerah Pontian, Kg Maju Jaya di Daerah Johor Bahru, Pasir Gogok di Daerah Kota Tinggi dan Cadangan Membaikpulih Tangki Larkin Perdana di Daerah Johor Bahru; Pakej 2: Cadangan Menambahbaik Sistem Agihan di Kg Maju Jaya, Johor Bahru dan Parit Markom, Pontian” (“the Contract”).

Salient Terms of the Contract

The total contract sum is Ringgit Malaysia Thirty Three Million Eight Hundred Eighty Three Thousand (RM33,883,000.00) only. The Contract is for a period of eighteen (18) months and the date of completion shall be on 18 March 2024.

Financial Effects

The Contract is expected to contribute positively to the earnings of Stella Group for the relevant financial periods within the duration of the Contract. The Contract will not have any effect on the share capital and shareholding structure of Stella.

Risks

The risk factors affecting the Contract includes changes in economic, political and regulatory environment and general operational risks. The Group will take appropriate measures to mitigate such risks.

Directors’ and/or Major Shareholders’ Interest

None of the directors and/or major shareholders of the Company and/or persons connected with them has any interest, whether direct or indirect in the Contract.

This announcement is dated 8 August 2022.






Announcement Info

Company Name STELLA HOLDINGS BERHAD
Stock Name STELLA
Date Announced 08 Aug 2022
Category General Announcement for PLC
Reference Number GA1-08082022-00058