The Board of Directors of Ahmad Zaki Resources Berhad (“AZRB” or “the Company”) is pleased to announce that its wholly-owned subsidiary, Ahmad Zaki Sdn Bhd had on 16 May 2018, received and accepted a Letter of Acceptance from PNB Merdeka Ventures Sdn Bhd (“the Award”) for a project known as “Construction of Jalan Hang Jebat, Jalan Stadium (Victoria Institutions) and Chinwoo Tunnels, Elevated U-Turn and Flyover, Galloway Pedestrian Bridge, Relocation of Existing Utilities, Upgrading and Improvement of Surface Road and Associated Works, Mukim Bandar Kuala Lumpur, Daerah Kuala Lumpur, Wilayah Persekutuan” (“the Contract Works”).

The Award for the Contract Works amounted to a total value of RM197,961,918.51 excluding GST.  The Contract Works shall commence on 21 May 2018 and is to be completed within 883 calendar days from commencement date.

The Contract Works is expected to contribute positively to the Group’s future earnings.

None of the Directors and Substantial Shareholders of AZRB or any persons connected with them has any interest, direct or indirect, in the Contract Works.

The Board of AZRB is of the opinion that the Contract Works is in the best interest of the Company.

This announcement is dated 17 May 2018.