OTHERS Salcon Berhad ("Salcon" or "the Company") - Sub-Contract Agreement with China Geo Engineering Corporation
Salcon Berhad ("Salcon" or "the Company") - Sub-Contract Agreement with China Geo Engineering Corporation
Salcon is pleased to announce that Salcon Engineering Berhad, a wholly-owned subsidiary of the Company, had on 26 September 2019 entered a Sub-Contract Agreement with China Geo Engineering Corporation (‘Sub-Contract Agreement’) for the following project:
The Project is a construction contract and has no option for renewal.
The Project is expected to contribute positively towards the earnings and net assets of Salcon Group for the financial year endings 31 December 2020, 31 December 2021 and 31 December 2022.
Salcon does not foresee any exceptional risks other than execution risks associated with the Project.
The Project will not have any effect on the share capital and substantial shareholders’ shareholding of the Company.
None of the directors and/or major shareholders of the Company, or persons connected with them have any interest, direct or indirect, in the Project.
This announcement is dated 27 September 2019.
* Based on the exchange rate of USD1:RM4.19 on 26 September 2019 as set out in the Bank Negara’s website, subject to rounding.
# Based on the exchange rate of SLR1.00 : RM0.023 on 26 September 2019 as set out in XE Currency Data API, subject to rounding.
|Company Name||SALCON BERHAD|
|Date Announced||27 Sep 2019|
|Category||General Announcement for PLC|