Bursa Announcements

Introduction

The Company is pleased to announce that its wholly-owned subsidiary, Aneka Jaringan Sdn Bhd, had on 11 July 2024 received and had on the even date accepted the Letter of Award dated 11 July 2024 from Grand Dynamic Builders Sdn Bhd to undertake the bored piles works and precast reinforced concrete piles works for the PROPOSED CONSTRUCTION OF NEW LOGISTIC HUB (PLOT B) ON PT 1042, JALAN UTAS 15/7, SEKSYEN 15, 40200 SHAH ALAM, SELANGOR DARUL EHSAN FOR MESSRS. STRATEGIC SONATA SDN BHD (“Sub-Contract”).


Salient Terms of the Sub-Contract 

(i) The Sub-Contract sum is Ringgit Malaysia Fifty Three Million (RM53,000,000.00) only.
(ii) The commencement date of the Sub-Contract is 17 July 2024 and shall be completed on 1 March 2025.


Financial Effects

The Sub-Contract will not have any effect on the share capital and shareholding structure of the Company. The Sub-Contract, however, is expected to contribute positively to Aneka’s consolidated earnings and net assets for the financial years ending 31 August 2024 and 31 August 2025, during the duration of the Sub-Contract.


Risks Factors

The Company does not foresee any exceptional risks other than the normal operational risks associated with the Sub-Contract. The Company will take the necessary steps to mitigate the risks.


Directors’ and Major Shareholders’ Interest

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


Approvals Required

The Sub-Contract is in the ordinary course of business and is not subject to the approval of Aneka’s shareholders.


Statement by Directors

The Board of Directors of Aneka, having considered all aspects of the Sub-Contract, is of the opinion that the Sub-Contract is in the best interest of the Company.

This announcement is dated 11 July 2024.