Introduction
The Company is pleased to announce that its wholly-owned subsidiary, Aneka Jaringan Sdn Bhd, has on 16 March 2026 received and has on the even date accepted the Letter of Acceptance dated 27 February 2026 from IJM Construction Sdn Bhd ("Turnkey Contractor") to undertake the bored piling and reverse circulation drilling ("RCD") works for Package 1 (Section 1 & 2A) of the New Pantai Highway Extension Project ("Project") ("Subcontract").
Salient Terms of the Subcontract
The Subcontract price is Ringgit Malaysia Eighty Two Million Eight Hundred Thousand (RM82,800,000.00) only.
(ii) The commencement date of the Subcontract is 2 March 2026 and shall be completed as follows:-
- Sectional Completion 1: Within 18 months from the date of possession of site.
- Sectional Completion 2 (Ramp D - Pier D3 to D8): Within 3 months from the date of possession of site.
- RCD Works - Within 20 months from the date of possession of site.
For the avoidance of doubt, the commencement date was agreed between AJSB and the Turnkey Contractor and has been adopted during the final negotiation for the Subcontract, to ensure that the delivery of works for the Project will not be delayed.
Financial Effects
The Subcontract will not have any effect on the share capital and shareholding structure of the Company. The Subcontract, however, is expected to contribute positively to Aneka's consolidated earnings and net assets for the financial years ending 31 August 2026, 31 August 2027 and 31 August 2028, during the duration of the Subcontract.
Risks Factors
The Company does not foresee any exceptional risks other than the normal operational risks associated with the Subcontract. 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 Subcontract.
Approvals Required
The Subcontract 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 Subcontract, is of the opinion that the Subcontract is in the best interest of the Company.
This announcement is dated 16 March 2026.
