ACCEPTANCE OF THE LETTER OF AWARD FOR THE PROCUREMENT OF MAINTENANCE SERVICES AND SPARE PARTS FOR RADAR ARTHUR WLS FOR THE ARMY (MINISTRY OF DEFENCE)
ACCEPTANCE OF THE LETTER OF AWARD FOR THE PROCUREMENT OF MAINTENANCE SERVICES AND SPARE PARTS FOR RADAR ARTHUR WLS FOR THE ARMY (“MINISTRY OF DEFENCE”)
2. The Contract Value
The Contract Value of the project is RM6,890,000.00 (GST INCLUSIVE) [RINGGIT MALAYSIA SIX MILLION EIGHT HUNDRED AND NINETY THOUSAND ONLY] .
3. Duration of the Project
4. The effect on net assets of the Group
The Proposed Transaction will not have any material effect on HeiTech Group's Net Asset for the financial year ending 31 December 2015 and is expected to contribute positively to the future earnings of HeiTech Group.
5. The risks in relation to the contract
The risks are the normal risks encountered by other companies undertaking a similar endeavor and the Group has taken the necessary steps to protect itself and to mitigate the risks when and as it occurs.
6. Directors' and Substantial Shareholders' Interest
None of the Directors or substantial shareholders or any person connected to the Directors or substantial shareholders of HeiTech has any interest, either direct or indirect in the above Contract.
7. Statement of the Directors
The Board of Directors of the Company is of the opinion that the above Contract is in the ordinary course of business and is in the best interest of the Company.
8. Financial effects
The Letter of Award is not expected to have any material effect on the earnings per share, dividend policy, gearing, share capital and the substantial shareholders’ shareholdings of the Company for the financial year ending 31st December 2015.
This announcement is dated 8 June 2015.
Please refer attachment below.
|Company Name||HEITECH PADU BERHAD|
|Date Announced||08 Jun 2015|
|Category||General Announcement for PLC|