INTRODUCTION

The Board of Directors (“the Board”) of Quality Concrete Holdings Berhad (“QCHB”) is pleased to announce that on 18 December 2024, its subsidiary, QC Construction & Engineering Sdn. Bhd. has accepted the award of a contract from LCDA Real Estate Sdn Bhd on The Proposed Alienation, Amalgamation, AVTC and Subdivision of Lot 8315 (New Lot 3248), Part of Lots 7668, 7671 & Unsurveyed State Land (New Lots 8407, 8409, 8412) & Road Reserve on Unsurveyed State Land  (New Lot 8408) Block 8 Salak Land District for Pasir Panjang, Santubong, Kuching.

The total contract value of the Contract is worth approximately RM75 million (Ringgit Malaysia Seventy Five Million Only).

DURATION OF CONTRACT

The completion period for Contract is for Twenty-Four (24) calendar months from the date of possession on site. The date of possession of site shall be arranged in due course.

FINANCIAL EFFECTS

The Contract is expected to contribute positively to the earnings and net assets of the Company and Group for the duration of the Contracts period.

SOURCE OF FUND FOR FINANCING THE LCDA CONTRACT

The Contract shall be funded by internally generated funds.

DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS

None of the Directors and/or major shareholders and/or person connected with them has any interest, direct or indirect in the abovementioned Contract.

 DIRECTORS’ STATEMENT

The Board is of the opinion that the abovementioned Contract are in the best interest of Quality Concrete Holdings Berhad Group.

This Announcement is dated 18 December 2024.