1.0   Introduction

We are pleased to announce that Crest Builder Sdn Bhd, a wholly owned subsidiary of Crest Builder Holdings Berhad ("Crest Builder" or the "Company") has been awarded a contract by UEM Land Berhad the Construction and Completion of 2 blocks of serviced apartments with retail and car park podium on part of Lot 103000, Batu 6, Off Jalan Cheras, Mukim Petaling, Daerah Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur (Cheras Taman Connaught – Plot 1) for a contract sum of RM 314.50million(the "Contract").

2.0   Duration of The Contract

The contract period set out in the letter of award is thirty-nine months (39) from the date of site possession ie. 1 June 2024 to 31 August 2027.  

3.0   Share Capital and Substantial Shareholder's Shareholdings

The Contract will not have any effect on the issued and paid-up share capital of Crest Builder and on the substantial shareholder's shareholdings of Crest Builder.

4.0   Earnings and Net Tangible Assets ("NTA")

The Contract is expected to contribute positively to the earnings of the Group for the financial years ending 31 December 2024 and onwards.

5.0   Director's and Substantial Shareholder's Interest

As far as the Directors of the Company are aware, none of the Directors and/or substantial shareholders of Crest Builder and/or any persons connected to the Directors and substantial shareholders of Crest Builder have any interest, direct or indirect in the Contract.

6.0   Statement by The Directors

The Directors of the Company are of the opinion that the acceptance of the Contract is in the best interest of the Company.

This announcement is dated 14 December 2023.