OTHERS AWARD OF CONTRACT FROM DESMET BALLESTRA (M) SDN BHD
APB RESOURCES BERHAD |
Type | Announcement |
Subject | OTHERS |
Description | AWARD OF CONTRACT FROM DESMET BALLESTRA (M) SDN BHD |
1. Introduction
APB Resources Berhad (“APB” or “the Company”) is pleased to announce that Amalgamated Metal Corporation (M) Sdn Bhd, a wholly-owned subsidiary of APB, has on 23rd September 2022 received and accepted Purchase Orders from Desmet Ballestra (M) Sdn Bhd to undertake the scope of work which involves mechanical engineering, procurement and construction of pressure vessels and heat exchangers (“Contracts”).
2. Salient Terms
The salient terms of the Contracts are as follows:
(a) The scope of works estimated to be completed within eight (8) months.
(b) The total value of Contracts is Ringgit Malaysia Eleven Million and Eight Hundred Thousand (RM11,800,000.00) only.
3. Financial Effects
The Contracts will not have any effect on the share capital and shareholding structure of the Company. However, it is expected to have impact on earnings of APB Group over the financial year ending 30th September 2023.
4. Risk Factors
The work and services to be performed under the Contracts are within the business scope of the fabrication division of APB Group and the risks are the normal operational risks associated with the said business.
5. Directors’ and Major Shareholders’ Interests
None of the Directors and/or major shareholders and/or persons connected with the Directors and/or major shareholders of APB has any direct or indirect interest in the Contracts.
6. Directors’ Statement
The Board of Directors of the Company is of the opinion that the Contracts are in the ordinary course of business and is in best interest of the Company.
This announcement is dated 23rd September 2022.
|
Announcement Info
Company Name | APB RESOURCES BERHAD |
Stock Name | APB |
Date Announced | 23 Sep 2022 |
Category | General Announcement for PLC |
Reference Number | GA1-23092022-00066 |