The Board of Directors (“the Board”) of Vivocom is pleased to announce that on 5 May 2016, Vivocom had vide its subsidiary company, Vivocom Enterprise Sdn Bhd (“VESB”), entered into heads of agreement (“HoA”) with De Facto Integrated Sdn Bhd (“De Facto”) to be the Turnkey Contractor for the development on a piece of land located at Wilayah Sultan Azlan Shah Mukim Hulu Kinta Daerah Kinta (“ the Project”). Subject to the execution of the final agreement, De Facto will appoint VESB as the main contractor for the Project at an estimated contract value of RM160.0 million (Ringgit Malaysia One Hundred Sixty Million) (“Award Sum”) (“Proposed Development”) comprising of mixed development.

The execution of the final agreement shall be conditional upon the finalisation and completion of the contract bill of quantities. Pejabat Daerah Dan Tanah Ipoh is the legal and beneficial owner of the vacant land held under Wilayah Sultan Azlan Shah Mukim Hulu Kinta Daerah Kinta. (“the Land ”).  

Please refer to the attachment for additional information.

This announcement is dated 5 May 2016