1. INTRODUCTION

The Board of Directors of KTI wishes to announce that its wholly-owned subsidiary, K.T.I. Sdn Bhd had on 11 November 2024 accepted a Letter of Award from Jawat Johan Sdn Bhd for a sub-contract of works under the main contract (IBS Specialist Sub-Contractor) for Project Pembinaan RKAT Pangkalan Udara Labuan (“LOA”). This marks the second award received by KTI as the IBS Specialist Sub-Contractor for the “Rumah Keluarga Angkatan Tentera” project. The previous project awarded was RKAT Kem Lok Kawi from Jawala Corporation in February 2024. With this new award, the total contract sum secured for the year 2024 now amounts to approximately RM214,373,571.00.

2. CONTRACT SUM

The value of the Contract is RM49,990,346.79.

3. CONTRACT PERIOD

The tenure of the Contract is fourteen (14) months from 25 November 2024 to 25 January 2026.

4. FINANCIAL EFFECT

The LOA will have no effect on the issued share capital and substantial shareholders’ shareholding in the Company.

The LOA is expected to contribute positively to the revenue and earnings of KTI Group for the financial years during the contract period.

5. INTEREST OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED WITH THEM

None of the directors and/or major shareholders of the Company and/or person connected with them have any interest, whether direct or indirect, in the LOA.

6. DIRECTORS’ STATEMENT

The Board of Directors of the Company, having considered all aspect of the LOA, is of the opinion that the LOA is in the best interest of the Company and its shareholders.

This announcement is dated 11 November 2024.