Announcement Details/Table Section :
The Company is pleased to announce that its wholly-owned subsidiary, Trans Resources Corporation Sdn Bhd ("TRC") had today received the Letter of Acceptance dated 10 October 2011 from The Brunei Economic Development Board, in relation to the Tender for the contract known "Modernization of Brunei International Airport Terminal” jointly participated by TRC and Swee Sdn Bhd for a contract sum of BND 130,000,000 (approximately RM 318,903,000.00) ("the Project").
The commencement date of the Project shall be the date of the signing of the Contract Agreement and the Project shall be completed within 36 months of the commencement date.
The Project will not have any effect on the issued and paid-up share capital, substantial shareholders' shareholdings, net assets per share and gearing of the Company and its subsidiaries ("TRC Group").
Barring unforeseen circumstances, the Board is of the opinion that the Project will contribute positively to the earnings and earnings per share of the TRC Group in the future.
None of the Directors of the Company, its substantial shareholders or person connected with Directors and substantial shareholders have any interest in the Project.
The Board, after having considered all aspects of the Letter of Acceptance is of the opinion that the Letter of Acceptance is in the best interest of the TRC Group.
The Letter of Acceptance is available for inspection at the registered office of the Company during office hours from Monday to Friday at TRC Business Centre, Jalan Andaman Utama, 68000 Ampang, Selangor Darul Ehsan, Malaysia for a period of three (3) months from the date of this announcement.
This announcement is dated 14 October 2011