General Announcement for PLC
01/08/2022OTHERS SEREMBAN ENGINEERING BERHAD ("SEB" or "COMPANY") LETTERS OF AWARD FROM TECHNIP ENERGIES (M) SDN BHD FOR SUPPLY AND DELIVERY OF: - MELAMINE SILO - PRESSURE VESSEL 1 (COLLECTIVELY REFERRED TO AS "THE CONTRACT")
| SEREMBAN ENGINEERING BERHAD |
| Type | Announcement | |||||||||||
| Subject | OTHERS |
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| Description | SEREMBAN ENGINEERING BERHAD ("SEB" or "COMPANY") LETTERS OF AWARD FROM TECHNIP ENERGIES (M) SDN BHD FOR SUPPLY AND DELIVERY OF:
- MELAMINE SILO
- PRESSURE VESSEL 1
(COLLECTIVELY REFERRED TO AS "THE CONTRACT") |
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1.INTRODUCTION
The Board of Directors of SEB (the “Board”) is pleased to announce that the Company had on 03 June 2022 and 18 July 2022 respectively received the letters of award (collectively referred to as “LOA”) awarded by Technip Energies (M) Sdn Bhd to undertake the Contract at the Melamine Plant located at Gurun, Kedah for a total contract sum accumulated up to RM14,010,000.00.
2.VALUE AND DURATION OF THE CONTRACT
The total value of the Contract and the duration thereof are summarised as follows:
The Contract shall commence as per the dates as stated in the formal purchase orders duly accepted by the Company on 3 June 2022 and 1 August 2022 respectively which in turn, shall form an integral part of the LOA.
3.RISK FACTORS
The risk factors affecting the Contract comprise mainly the normal operational and execution risks which the Group would take appropriate measures to address them.
4.FINANCIAL EFFECTS
The Contract will not have any effect on the total issued share capital of the Company, barring unforeseen circumstances, it is expected to contribute positively towards the earnings and net assets per share of the Company for the duration of the Contract.
The Contract will be funded via internally generated funds.
5.DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS
None of the Directors and Major Shareholders of the Company and persons connected to them has any interest, direct or indirect, in the Contract.
6.STATEMENT BY DIRECTORS
The Board, having taken into consideration all aspects of the Contract, is of the opinion that the Contract is in the best interest of the Company and its subsidiaries.
The announcement is dated 01 August 2022. |
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Announcement Info
| Company Name | SEREMBAN ENGINEERING BERHAD |
| Stock Name | SEB |
| Date Announced | 01 Aug 2022 |
| Category | General Announcement for PLC |
| Reference Number | GA1-29072022-00043 |