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SUNWAY HOLDINGS BERHAD (FORMERLY KNOWN AS SUNWAY HOLDINGS INCORPORATED BERHAD) ["SUNWAY"]
- LETTERS OF AWARD TOTALLING S$171.68 MILLION FROM STRAITS CONSTRUCTION CO. (PTE) LTD.
The Board of Directors of Sunway is pleased to announce that Sunway Concrete Products (S) Pte Ltd, a wholly-owned subsidiary of Sunway Construction Sdn Bhd which in turn is a wholly-owned subsidiary of Sunway, has on 6 November 2008, accepted the letters of award totalling S$171.68 million (equivalent to approximately RM408.10 million) from Straits Construction Co. (Pte) Ltd. for the following contracts:-
(i) Contract for supply and delivery of precast concrete components for "Building Works at Punggol East Contract 20 and Contingency Works" (total: 738 dwelling units). The contract duration is 21 months and is targeted to be completed by 30 June 2010;
(ii) Contract for supply and delivery of precast concrete components for "Building Works at Clementi Neighbourhood 4 Contract 8 and Contingency Works" (total: 2,234 dwelling units). The contract duration is 31 months and is targeted to be completed by 14 May 2011; and
(iii) Contract for design, fabricate, supply and delivery of precast concrete components for the Design, Build and Sell Scheme (DBSS) project on Lot 9997W MK17 at Lorong 1A, Toa Payoh comprising erection of 5 blocks residential flats with 1 block of multi-storey car park. The contract duration is 42 months and is targeted to be completed by 18 May 2012.
The above contracts will boost Sunway's outstanding order book to approximately RM4.2 billion and are expected to contribute positively to the earnings of Sunway Group for the financial year ending 2009 onwards.
None of the directors or substantial shareholders of Sunway or persons connected with them has any interest, whether direct or indirect in the contracts.
This announcement is dated 6 November 2008.
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